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Subject:  Re: Here's your chance: Balance the Fed budget Date:  1/3/2007  6:29 AM
Author:  capitanfracassa Number:  200237 of 603176

Maybe not, but who needs profits anyhow? (yes I am aware that the present capitalistic economy needs them)

What I want is a standard of living that is as high as possible.

Yes, I agree with that. But you can argue it both ways. You could give up on profits and get indeed a higher standard of living, but that requires a complete redesign of the economy. There is a good chance that this redesign will fail and you'll end up with a lot lower standard of living. Is it worth trying? In fairness there is no simple answer.

The current economic/monetary system is trying to square the circle, preserving profits (and the political/economic system) while neutralyzing a good deal of its negative effects on the the standard of living (but keeping the good aspects, innovation, etc.). The price is quite high. But it is paid by others--Iraqis for example, and our grandchildren who will live in a dessicated desert.

I try to separate my wishes from the analysis of what actually takes place. So I take the sacrosantity of profits as a given.

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