The River

Wednesday, December 05, 2007

The DUI theory of capitalism

All these organizations 'manage risk' but I assume this means going out at night with Miz Risky and getting plastered and then driving around in the dark with the headlights off, tossing beer bottles out the window.

-- Elaine Meinel Supkis, Money Matters

In 1960, Friedman wrote an essay, In Defense of Destabilizing Speculation, which suggested that speculation would self-organize its own constraints due to the fact that speculations that were inefficient would lose money to people who had bet against those speculations. This is a variant of the efficient markets theory, which should really be renamed the “trust a drunk to get home’ theory.

-- Roger Gathman, Limited, Inc.

Forrest Gump, for example, was the American Candide, chronicling epochal events which total up to restless catastrophe. Vietnam is where this country really went round the bend too fast and got caught by the state trooper with a radar gun.

-- Marc Lord, Adored by Hordes

Nice. Thanks, for the blog-love, but I really like both the other posts. Will have to check the linkies out. Trust a drunk to get home is market capitalism in a nutshell. Or nutcracker.

On an unrelated note, "meet me tonight in Atlantic City" has been going through me head a lot the past couple days. Will do some youtubing about it, since I know the song was based on a real event.

Cheers you,
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