From: Emlyn O'regan (oregan.emlyn@healthsolve.com.au)
Date: Mon Jul 01 2002 - 23:50:56 MDT
> From: spike66 [mailto:spike66@attbi.com]
> Sent: Tuesday, 2 July 2002 2:54 PM
> To: extropians@extropy.org
> Subject: Re: ECON: Internet economy boom or not?
>
>
> Emlyn O'regan wrote:
>
> >Why, in all the commentary about big business naughtiness,
> does everyone
> >lament that "we can't trust even the biggest and most established
> >corporations"? I would have taken it as a given that you
> couldn't trust
> >them;
> >
> Emlyn, what they mean is the big businesses can no longer be
> trusted to make
> the investors a profit. Whatever big business does is fine and dandy,
> so long as the stock prices keep going up. As soon as they can no
> longer be trusted to generate wealth, then they must answer for this
> broken trust.
Stock prices rising and wealth generation are not the same thing!
>
> > if they care about our trust at all, it is more that they
> care that we
> >trust them, and don't find out what they are really doing.
> >
> Nor do we care what they are doing, so long as they are making
> investors money.
>
In fact, that is caring what they are doing.
> >How come this is news? Why are people jumping up and down
> about how the
> >public will lose faith in the system?
> >
> See above.
I guess I mean that you must look at this ends justifies the means
environment, and ask why you are surprised that everyone is being screwed as
much as possible by everyone who can get away with it at all times?
Trust in the market looks like one of those commons that aren't handled too
well by the market itself.
Emlyn
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