October 8, 2008
Two Sharp Points:"If this financial crisis "proves" that capitalism and free markets just don't work, isn't the generally lower standard of living in nations with other systems a far more conclusive proof that other systems are much worse? Second, as the example of Zimbabwe amply demonstrates, it is not the zeroes in the end that matter but what those zeroes can buy. If the financial crisis makes everything cheaper the same percentage as my net worth goes down, I am no worse off than I used to be. " -The Fourth Checkraise: Purchasing power
Posted by Vanderleun at October 8, 2008 9:32 AM. This is an entry on the sideblog of American Digest: Check it out.