Washington Post,May 22, 2009 Page A21:
The assumption about the economic system and the players(the banks) were wrong in an article by Harold Meyerson.
I sent my blogs re "assumption in economics" with questionable basis.
Richard Posner,a conservative law and economics movement published his new book,"A Failure of Capitalism," Posner argues that " the current downturn, unlike any since the Great Depression, reveals that capitalism is not self-corecting, that market forces cannot in themnselves produce a recovery for a crisis this systemic, and that what we are experiencing is,well, a failure of capitalism." I sent my blogs several times regarding the positive and negative externalities re market imperfactions.
Harold Meyerson wrote:"Since the late 1970s, by its support of a radical,laissez-faire capitalism,the Republican Party isn't left with much of a defining doctrine and dumb ideas are no way to build a party."
I have the same thought so I voted a Democratic President of the United States for a changing America.
Francis Shieh aka Xie Shihao,a reader to make comparisons with the views of other thinkers.
Saturday,May 23, 2009 at 10.12 a.m.