final words, for now...

Michael Hoover hoov at
Wed Sep 8 16:49:10 MDT 1999

> But the question becomes why,historically, has the state been involved
> in the economy rather than just pure, unfettered market forces. Marx and
> Keynes demonstrated through their demolition of Say's law,conclusively
> in my view, that pure market economies are inherently unstable. Business
> cycles and crisis are endogenous to market capitalism.
> Sam Pawlett

Not only does state enforcement of contractual relations maintain
institutions of private property and the marketplace, rarely is it
noted that J. Locke's government is established after the introduction
of money which means that it exists to protect unequal property.  Nor
is it often pointed out that the purpose of A. Smith's government is to
protect the rich from the poor and that such government grows as wealth
grows.  So much for the impartial, mediator government.   Michael Hoover

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