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The Value of Nothing, by Raj Patel.

June 19, 2010

Raj Patel’s The Value of Nothing is a book that I cannot resist but recommend to the smart investors that follow my blog. His insight about the interplay between free market economy and government regulation can help us shift our priorities and learn how to recover from the economic chaos that Fed chair Greenspan had created with his flawed thinking. Greenspan believed in laissez-faire the philosophy espoused by Rousseau, Kierkegaard and Sartre, that man is basically good and if left alone he will produce the greatest wealth for the greatest number of people. This free market fallacy was opposed by Zigmund Freud who said that man is basically bad and if he is not tamed by regulations he will “unleash the beast out of his cellar.” (Freud’s own words).

Did Obama get it? The US economy is STILL not regulated, waiting for the next disaster unleashed by the “beast coming out of the cellar.” Invest but be ready to take your money out at the first sign of Thanatos (Freud’s term for the forces of destruction in the world).

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