97 lines
3.8 KiB
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97 lines
3.8 KiB
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From fork-admin@xent.com Wed Aug 28 10:50:29 2002
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From: "John Hall" <johnhall@evergo.net>
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To: <fork@spamassassin.taint.org>
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Subject: RE: The Curse of India's Socialism
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Date: Tue, 27 Aug 2002 14:14:18 -0700
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> From: fork-admin@xent.com [mailto:fork-admin@xent.com] On Behalf Of
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James
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> Rogers
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> Subject: Re: The Curse of India's Socialism
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>
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> On Tue, 2002-08-20 at 15:01, Ian Andrew Bell wrote:
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> > They
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> > finished their routine with the a quadruple lutz -- laying off
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> > hundreds of thousands of workers when it all came crashing down.
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>
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> So what? Nobody is guaranteed employment. Laying people off is not a
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> crime nor is it immoral. Companies don't exist to provide employment,
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> nor should they. The closest we have to such a thing in the US is a
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> Government Job, and look at the quality THAT breeds.
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And further, why focus on the fact they were laid off and not on the
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fact they were hired in the first place?
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BTW: I saw someone claim that aside from the efficiency of the market
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there were also gains to society from irrational behavior.
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If a society has business people that systematically overestimate their
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chances, that is bad for the businessmen but on net a big gain for
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society. On the social level, the law of averages works to societies
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benefit in a manner it can't for an individual.
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A key reason, in this view, that the US wound up outperforming England
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was that the English investors were too rational for their societies own
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good.
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(Except, of course, when US investors were bilking them to build canals
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and railroads over here. Thanks, guys.)
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=====================
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Applied to telecom: a lot of dark wire (glass) and innovation will
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eventually be used for pennies on the dollar, the benefits to society
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and the costs to the investors.
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