Supporters of Capitalism Are Crazy, Says Harvard

mises.org ^ | 3/17/09 | Thomas E. Woods, Jr.

[mountainlion]

How many $millions did Harvard loose?

[mulligan]

Anyone thinking about Harvard for schooling is a verifiable idiot.

[Earthdweller]

BTTT!

[Zionist Conspirator]

Another Hamiltonian/McKinleyite interventionist attack on Jeffersonian agrarian laissez faire?

[IYAS9YAS]

My, how history repeats itself...

[FlingWingFlyer]

If they ever remake “One Flew Over The Cuckoo’s Nest”, they should shoot it in a college or university instead of an asylum.

[DoughtyOne]

Last weekend, Harvard University sponsored a conference called (I am not making this up) "The Free Market Mindset: History, Psychology, and Consequences." Its purpose was to try to figure out why, since everyone knows the current crisis amounts to a failure of the market economy, the stupid rubes continue to believe in it.

Stupid rubes? Good grief!

[polymuser]

.

Harvard has fallen so very far from "New England's First Fruits". If anywhere a revival and return to purpose is needed in America, it's there.

.

[mpreston]

Stupid rubes? Good grief!

Be careful. The author is mixing personal opinion with conference outlines. It would have been nice if the author actually reviewed presented material vs. attack the conference title. This conference could have ended up supporting capitalism but there is no way to tell from this article.

I will be the first in line to criticise Harvard and Ivy League schools but lets base it on reality vs. perception.

[The Duke]

I often find myself wondering if I, as a capitalist, am not also crazy. As the owner of a company I find myself losing sleep at night as I try to come up with ways to make my customers and top employees happier and more prosperous.

Wouldn't it be more sane for me to take a gub'mint job and get some decent sleep at night?

Yeah, capitalists are crazy alright.

[DoughtyOne]

The term “stupid rube” is a racist term. Whoever used it, should know better.

[DoughtyOne]

The word Rube was condensed from the name Reuben. I’ve seen it used as a pejorative in relation to Jews. In fact it’s more comment use seems to have be a reference to “stupid” Rube Goldberg-like ideas. I don’t use the term due to the way I’ve seen it used, but that’s my personal take on it.

http://dictionary.reference.com/browse/rube

[Major Matt Mason]

Said the pointy-headed professors who have never run a business in their lives.

[GOP Poet]

Well said and a darn fair point.

[ChicagahAl]

"Greenspan...suggested that there was, after all, a "flaw" in the free market he hadn't noticed before."

Then Alan looked in the mirror, and exclaimed, "There's the flaw. I see it now!"

[keepitreal]

Harvard has been selling its product (an toney education) in the capitalist market for centuries. The market seems to bear quite a bit when it comes to paying for said education.

It’s time for the capitalist entity Harvard to be seized by the government so that all the people can afford to attend it.

[Unam Sanctam]

Of course free market capitalism has only brought us more than two centuries of overall economic growth, but hey...

[PsyOp]

“It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own necessities but of their advantages. Nobody but a beggar chooses to depend chiefly upon the benevolence of his fellow-citizens. Even a beggar does not depend upon it entirely....” - Adam Smith, The Wealth of Nations, 1776.

Adam Smith - The Invisible Hand Speaks.

[Travis McGee]

Yeah, let’s listen to the experts from Harvard.

“If recession should threaten serious consequences for business (as is not indicated at present) there is little doubt that the Federal Reserve System would take steps to ease the money market, and so check the movement.” ~~Harvard Economic Society, October 19, 1929

“...despite its severity, we believe that the slump in stock prices will prove an intermediate movement and not the precursor of a business depression such as would entail prolonged further liquidation...”
- Harvard Economic Society (HES), November 2, 1929

“... a serious depression seems improbable; [we expect] recovery of business next spring, with further improvement in the fall.”
- HES, November 10, 1929

“...there are indications that the severest phase of the recession is over...”
- Harvard Economic Society (HES) Jan 18, 1930

“... the outlook continues favorable...”
- HES Mar 29, 1930

“... the outlook is favorable...”
- HES Apr 19, 1930

“Business will turn for the better this month or next, recovering vigorously in the third quarter and end the year substantially above normal.” ~~Harvard Economic Society, May 17, 1930

“...by May or June the spring recovery forecast in our letters of last December and November should clearly be apparent...”
- HES May 17, 1930

“... irregular and conflicting movements of business should soon give way to a sustained recovery...”
- HES June 28, 1930

“... the present depression has about spent its force...”
- HES, Aug 30, 1930

“We are now near the end of the declining phase of the depression.”
- HES Nov 15, 1930

“Stabilization at [present] levels is clearly possible.”
- HES Oct 31, 1931