rdz@ccice5.UUCP (Robert D. Zarcone) (03/14/85)
The following quotes come from "Economics" by Campbell R. McConnell, a standard economics text used in NYS private and public colleges in the 1960's and 70's. "Pure, or laissez-faire, capitalism (has this) underlying assumption; Each economic unit decides what choices and policies are best for it. Institutional characteristics (are) private ownership of resources and business institutions; freedom of choice for consumers, resource suppliers, and enterprisers. Method of solving economizing problem (is) emphasis upon a system of free, competitive markets - virtually no governmental planning or control. "In short, the framework of capitalism embodies the following institutions and assumptions: (1) private property, (2) freedom of enterprise and choice, (3) self-interest as the dominant motive, (4) competition, (5) reliance upon the price system, and (6) a limited role for government. "Pure competition, you will recall, presupposes that certain specific conditions are fulfilled. 1. A purely competitive industry is composed of a large number of independent sellers. 2. The firms offer a standardized product. 3. No individual firm supplies enough of the product to influence its market price noticeably. 4. In a competitive industry no artificial obstacles prevent new firms from entering or old firms from leaving the industry." If you still don't understand a free market, please do some reading of economics texts. If you still think "The (fill in your favorite crime organization here)" controls all facets of criminal activity in America, please read some books or articles about organized crime. If, after you have gained your new found knowledge, you must still insist on ignoring the FACTS when posting an article about this subject, please be so kind as to indicate "personal opinion" in your "Subject:" line. This will save me time and annoyance. Thank you. *** REPLACE THIS LINE WITH YOUR MESSAGE ***