Re: History Timelines etc

["Paul R Hopfgarten" <hopfgapr@sprynet.com>]

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> From: Dib9@aol.com

> Your understanding of how prices are set in the marketplace does not fit
> anything I learned in Economics 101 or have observed in the marketplace.
>  Supply & demand ultimately sets prices, not what the owners want to
charge.
>  If a business wastes money and drives up their prices, a consumer can
switch
> to their competitor or substitute another good or service for their
product.
>  Prices can only rise if the demand for the good or service is greater
than
> the supply.  Only in the case of a monopoly (like the electric company)
is
> this not possible.
> 
> I never said capitalism is benign.  Totally unregulated capitalism will
lead
> to the classic "trusts" with only a few companies dominating any
particular
> market.  This would eliminate the supply & demand factors that set prices
in
> a market with competition.  Other than some necessary anti-trust laws, I
> believe it has been proven that a capitalist economy, with a minimum of
> regulation, will produce the highest standard of living for the most
people.
>  A good comparison is the USA economy today vs. most countries in Western
> Europe.  All have basically capitalist systems, but the Eurpean countries
> generally have higher rates of taxation and more regulation and as a
result
> they have lower rates of growth, higher unemployment and generally, lower
> standards of living.
> 
> Capitalism is not benign. By it's very nature capitalism produces winners
and
> losers.  That's fine with me. I do not want to live in a benign, risk
free
> society.
> 
> Dan Billings
> Bowdoinham, Maine

BRAVO!!!
I couldn't agree more

Paul Hopfgarten
Derry NH

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