Wednesday, August 29, 2012

Moving Up/Moving Out

Once you look at things from the other side of capitalism, you realize just how out-of-control the rich really are.  It is in the nature of being really rich.  If you try to compel them, they will pick up their marbles and go where you cannot punish them.  See the following recent articles.

Companies move away.
Individuals move away.

Note that these are not just U.S. companies and citizens.  They are also residents of very oppressive regimes  from which one might think there is no escape.  Yet the rich are able to escape anyway.  Again, it is in their nature.

The rich can be disciplined, but only by the market.  For example, not all the regulations from the last four years was able to keep JPMorgan from making poor bets in derivatives that led to billions in losses.  However, losing billions is its own punishment.  If JPMorgan learned anything, it was from the losses, not from the regulations.

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