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<p>[QUOTE="V. Kurt Bellman, post: 3079932, member: 71723"]I agree 100%.</p><p><br /></p><p>At some point, two things are true. 1) they NEED to think about policy and act accordingly on a macro basis, and 2) understand that there almost is NO SUCH THING as "what's best for me personally serves the best needs of the economy at large". "The paradox of thrift" (Google it) is but the best example of that fact.</p><p><br /></p><p>Yes, and NEVER IN THE HISTORY OF MANKIND have we found a useful answer in "going paleo", or "going back to what we used to do."</p><p><br /></p><p>One example. Ever hear of Luden's Cough Drops? It was the number one OTC cough and cold remedy in this country at one time. There is a place in southeastern Reading, Pennsylvania where the Luden Mansion still stands today. One family's wealth was able to support that property. Yes, it was the gold standard hard money era. Now I know people think there's some pretty wild income distribution out there now, but during that era it was downright Dickensian. Single families had palatial estates while other people literally died in poor houses. Is that what we seek to return to?</p><p><br /></p><p>Oh, the Luden Mansion became Reading Central Catholic High School for MANY decades. Even the Diocese of Allentown, rich as the Church is, even while 100% tax exempt, couldn't keep the Luden Mansion afloat any more, AS A SCHOOL!!! A single family home at one time. It's now a rotting hulk. I see NOTHING attractive about returning to the old days and its economics - NOTHING AT ALL. By the way, Ludens itself was bought up by Hershey Foods and shut down. Even the factory is now urban blight.</p><p><br /></p><p>We need some other paradigm than "Bill Gates, Jeff Bezos, Elon Musk, Zuckerberg and the Jobs widow get everything" as a result of the tech revolution. I don't know what it is yet, but it can't be this. But maybe we can start with an aggressive anti-merger and acquisition regime, a la Teddy Roosevelt. You can compete with your competition, but you can't own them. We don't YET allow the New York Yankees to own every other team and stock them with AA players. Wait. It may still happen yet.[/QUOTE]</p><p><br /></p>
[QUOTE="V. Kurt Bellman, post: 3079932, member: 71723"]I agree 100%. At some point, two things are true. 1) they NEED to think about policy and act accordingly on a macro basis, and 2) understand that there almost is NO SUCH THING as "what's best for me personally serves the best needs of the economy at large". "The paradox of thrift" (Google it) is but the best example of that fact. Yes, and NEVER IN THE HISTORY OF MANKIND have we found a useful answer in "going paleo", or "going back to what we used to do." One example. Ever hear of Luden's Cough Drops? It was the number one OTC cough and cold remedy in this country at one time. There is a place in southeastern Reading, Pennsylvania where the Luden Mansion still stands today. One family's wealth was able to support that property. Yes, it was the gold standard hard money era. Now I know people think there's some pretty wild income distribution out there now, but during that era it was downright Dickensian. Single families had palatial estates while other people literally died in poor houses. Is that what we seek to return to? Oh, the Luden Mansion became Reading Central Catholic High School for MANY decades. Even the Diocese of Allentown, rich as the Church is, even while 100% tax exempt, couldn't keep the Luden Mansion afloat any more, AS A SCHOOL!!! A single family home at one time. It's now a rotting hulk. I see NOTHING attractive about returning to the old days and its economics - NOTHING AT ALL. By the way, Ludens itself was bought up by Hershey Foods and shut down. Even the factory is now urban blight. We need some other paradigm than "Bill Gates, Jeff Bezos, Elon Musk, Zuckerberg and the Jobs widow get everything" as a result of the tech revolution. I don't know what it is yet, but it can't be this. But maybe we can start with an aggressive anti-merger and acquisition regime, a la Teddy Roosevelt. You can compete with your competition, but you can't own them. We don't YET allow the New York Yankees to own every other team and stock them with AA players. Wait. It may still happen yet.[/QUOTE]
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