From: Robin Hanson (hanson@hss.caltech.edu)
Date: Thu Feb 13 1997 - 15:19:47 MST
Crosby_M writes:
>Yes, the United States has been the exception - it has more closely
>approximated a free-market system than any other nation. But as more
>nations shed the shackles of socialism and mercantilism, as seems to
>be the trend, shouldn't they too begin to approach the capital
>appreciation rates experienced in the U.S.?
That's the positive interpretation. Let's hope its true. Note the
implication though: Most capitalists have never appreciated the value
of free markets, or they would have invested here instead of elsewhere.
>I would think the real question would be: as more nations achieve
>freer market mechanisms is the more level playing field and greater
>global competition going to drag everyone down or up?
Likely up, given the assumption above.
Robin D. Hanson hanson@hss.caltech.edu http://hss.caltech.edu/~hanson/
This archive was generated by hypermail 2.1.5 : Fri Nov 01 2002 - 14:44:10 MST