On Fri, 25 Jul 2008, Doug Henwood wrote:
> A 500-word limit is really tight.
It's true. But it has it's own kind of haiku heightening. I love you condensed argument in this last dustup where you sketch the enshrined wisdom that shareholders know best, its theology by Michael Jenson and efficient market theory, its practice starting with the take-over artists of the 90s, and its worship by acolytes such and Landsberg -- and then, alluding to the obvious mass stupidity of the last few bubbles ask "Is it that rising stock prices dull critical facilities?"
That is such a deep and resonant riposte to both the common wisdom and the most abstract theoretical defence. And I think part of why it's so resonant is precisely because you have to stop there.
Michael