Some Things Were Never Meant

The Foresight Of Financial Experts Was, As So Often, A Poor Guide To The Future.

I've Been Writing A Book Called The Economics Of Innocent Fraud. I Published Part Of It Already In The Progressive ("free Market Fraud," January 1999). But I've Been Interrupted These Last Few Months. It Deals With All Of The Things We Do, In An Innocent Way, To Cover Up The Truth.

It Is In The Long Run That The Corporation Lives.

We Have A Swarm Of People In The Stock Market - Not Out Of Knowledge, Not Out Of Expectation, But Out Of Basically A Gambling Instinct, The Hope That Prices Will Go Up.

Seaboard Air Line, Which Was Thought By Numerous Innocents To Provide A Foothold In Aviation, Was Another Favorite, Although, In Fact, It Was A Railroad.