FROM OUR INBOX
Re: How to Get RichWithout Turning a Profit I am impressed so far with your publication! I hope in the near future you will direct articles for people with, for example, only SSD income & very little cash in the bank! – Sheri Sherman Sheri, we’ll absolutely feature these sorts of articles in American Consequences . In this issue, check out How Fear Will Ruin Your Financial Future . That comes from Dr. David Eifrig’s Retirement Millionaire letter... He’s a big believer in starting small – even if it’s just $25 – when you first begin investing. Steven Longenecker comment:
Re: These Folks Aren’t Playing With Monopoly Money
P.J., P.J., P.J... I love your writing and most of your politics, but your main quote in this article – “monopolies are only possible with the bureaucratic enforcement powers of government” – is delusional. Adam Smith knew it as do most economists who do not derive all their answers from pure libertarian presuppositions. Let me be clear though – I define monopoly as any ability to influence prices (or market share or quality of service) over the semi- long run (a few years). Warren Buffett has stated that his primary objective is to invest in companies with “durable pricing power.” Do you honestly think he’s looking only at companies that have curried government favor? – Greg Dietz Mr. Dietz, Good point! I should have been clearer in my definition of monopoly. I was talking about the ability to permanently set prices, which is only possible with government police powers. You are quite right about the ability to strongly influence prices over the span of a few years. It’s an issue we should address. P.J. O’Rourke comment:
By permission Michael Ramirez and Creators Syndicate, Inc.
18 | September 2017
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