Soros

[David Farber <dave () farber net>]

Begin forwarded message:

From: Frode Hegland <frode () hyperwords net>
Date: October 6, 2008 4:13:07 AM EDT
To: Dave Farber <dave () farber net>
Subject: Soros


Freshly back from the free-market vs. socialism flame wars on IP, I  
read George Soros' new book (long title but just search for Soros and  
then view by date).

I think he puts the whole mess into perspective in a single paragraph  
towards the end (my interpretation, blame me for any  
misunderstandings, not Mr. Soros!).


He states that credit creation is so important to the economy and  
society that when those who create credit is in trouble the state has  
to bail them out.

Therefore those who create credit need to accept that they are under  
state protection and that this comes at a price.

This price is government anti-bubble control through regulation.

Therefore the real debate should be about what kind of minimal  
regulation is most effective at preventing these bubbles.

IP thoughts on this?


Frode Hegland
The Hyperwords Company
59 Brewer Street, London W1F 9UN, UK
+44 121 288 6767
+44 (0) 207 3655 269
www.hyperwords.net

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