From: Robin Hanson (rhanson@gmu.edu)
Date: Tue Jun 10 2003 - 18:57:09 MDT
On 6/10/2003 Adrian Tymes wrote:
> > ... you are the most conservative investor there is;
> > you invest all of your income in immediate consumption.
> > ... then you criticize other investors, who actually
> > take a chance by putting their income into ventures
> > that may or may not be successful, saying they should
> > take even more chances than they do. ...
>
>I believe he said he had too little to invest. In his
>defense, there is a demonstrated minimum amount of
>financial resources, which most people are presently
>unfortunately below, where one can achieve meaningful
>progress in various technologies with just that
>amount. ...
Through the innovation of a joint stock corporation, many
small investors can join together to make a large
investment in a business enterprise. A share of most of
these ventures can be had for less than $100. Most
people have more than $100 available to invest.
Robin Hanson rhanson@gmu.edu http://hanson.gmu.edu
Assistant Professor of Economics, George Mason University
MSN 1D3, Carow Hall, Fairfax VA 22030-4444
703-993-2326 FAX: 703-993-2323
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