[lbo-talk] Endgame in the banking sector

[Eubulides]

Shane Mage wrote:
>
> On Sep 15, 2008, at 9:21 PM, Joseph Catron wrote:
>
>> On Mon, Sep 15, 2008 at 8:04 PM, Eubulides 
>> <paraconsistent at comcast.net>wrote:
>>
>> As those who have heard of Smith and Quesnay know, laisser-faire is an
>>>> economic ideology, not a political theory.
>>>>
>>>> Shane Mage
>>>>
>>> ===============
>>>
>>> Oh please. There's no economic theory that isn't a political theory. 
>>> Funny
>>> how some marxists believe in the very "liberal art of separation" they
>>> decry; let the left hand know not what the right hand is doing..
>>
>>
>> Shane, could you possibly tell us your distinction between the two? I 
>> don't
>> see it either, but will entertain the possibility that it's there.
>>
> Disboulides [inversely] mistranslates my "laisser-faire is an economic 
> ideology, not a political theory" as"no economic theory that isn't a 
> political theory."  So let me tell the difference between economic 
> *ideology* and political *theory*: an economic ideology proposes an 
> "ideal" system of productive/exchange social relationships that would 
> be "best" whatever set of political institutions (consistent with it) 
> were established.  Example: Ludwig von Wieser, Austrian laisser-faire 
> economist, claimed to have established "the economic theory of the 
> communist state" (he was right insofar as only under communism could 
> market and social valuations of "marginal utility" perfectly 
> coincide).  A political theory, on the other hand, would claim 
> validity for application to any historical sociaty, whatever its 
> structure of production/exchange relationships.  Example: Viconian 
> "corsi e recorsi."
>
>
> Shane Mage
====================

Quit digging already. Pointing out the  errors of your assertion is not 
mistranslation. And of course, one could, given the folk theory of 
laissez-faire some on the list seem to hold, point out that neither 
Smith nor Quesnay espoused such a doctrine. I do love the "..." around 
ideal though.

Sheesh,

Ian