-----Original Message----- From: lbo-talk-bounces at lbo-talk.org [mailto:lbo-talk-bounces at lbo-talk.org] On Behalf Of uvj at vsnl.com
Miles Jackson wrote:
> I'm also stuck by how little faith these political hacks have in
> their own ideology: Whatever happened to the heralded efficiencies
> of free markets? How dare they imply that
> unfettered capitalism doesn't lead to the optimal distribution
> of resources!
Renminbi is not freely convertible at market prices. It's value vis-a-vis other currencies is not decided by free market.
Ulhas
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The free market is an oxymoron in legal terms. It's like phlogiston, a concept that does not refer, yet makes people feel good/bad depending on their worldview.
Ian
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