Al Qaeda, Inc: The Enron Business Model (belated response)

[Charles Jannuzi]

>Brad Mayer <bradley.mayer at ebay.sun.com>
>Subject: RE: Al Qaeda, Inc: The Enron Business Model >(belated response)
>Charles,
>Understood.  The problem I have with the Ponzi >analogy is that it rings of
the Proudhonian "Property is >theft".  Marx famously argued against
>this as an interpretation of capitalism, an argument I'm >sure just about
everybody on this list is familiar with >(so I won't repeat it).

We are on the same wavelength. Another problem with the Ponzi analogy, which
your analysis alludes to but I'll make explicit is: it makes it sound like
it was a criminal anomaly, a one-off event.  I happen to think it wasn't. If
the Dow gets corrected significantly we shall soon see which companies have
the dodgiest of business models going. And I'm still dying to hear how GE
explains itself.

Charles Jannuzi