Capitalists are not stupid, they know the long term consequences of their actions. Their interest is in short-term profit, to satisfy their shareholder, no not the average stockholder, but the institutional shareholders. The government plays the role of regulating the "animal spirits" as Keynes called it. They cannot look long-term because their interests are in the short-term, and we see that now with the lack of government oversight with the mortgage crisis. Marx was right when he said the government is really the central committee for capitalists, because they need it to be to secure accumulation. However, my political economic ideas are a bit more radical than I think most ppl can handle so I'll leave it at that.

Blog: http://perspectivos.blogspo t.com/

by Nick86 on 04/17/2008 03:42:42 PM EST

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