Josh and I took the Subway into Seoul again to meet up with Mr. Lee’s nephew. We were not sure exactly what the itinerary would be, possibly a trip to the “Underground Mall”. 
The subway ride is pretty long, approximately and hour and a half. Josh and I brought our Kindles along for the ride, it really makes the time go by fast. Seoul is only twenty miles away but there is no express train like there is in NYC, the train stops very frequently. On the plus side the subway seats are heated which is very nice (if you are lucky enough to get a seat).
We met Mr. Lee’s nephew at the Yeoksam subway stop and got into a cab to find a restaurant. We tried a French restaurant. The food was OK. I finally tried quail eggs – I didn’t really care for them. Josh had some Mussels and I had Escargot, (I like snail). more…
Packing for a six month journey was not an easy one. I love to read and bringing a small library of books with me was not an option. So I finally broke down and bought a Kindle.
I love it. My husband has already acquired a small library on his Kindle, (which is linked to mine), so I have enough to keep me occupied for a few weeks. I read this book on the plane; Cultural Dimensions of Expatriate Life in South Korea, by Bill Drake. It gave me a crash course on Korean Culture, which has already proven to be useful.
There was one book that I couldn’t bring myself to leave behind, Peter Schiff’s Crash Proof 2.0.This book has been a real eye opener for me. In the past I never had much of an interest in economics. The bursting of the housing bubble and the shrinking job market has effected my husband and I in many ways. I stumbled upon one of Peter’s video blogs by accident one day and I was very impressed with what he had to say. This was before he was a candidate for the U.S. Senate.
This book is not political – just common sense economics. Peter Schiff predicted the bursting of the housing bubble many years ago. This book is just an update to the original Crash Proof. I would highly recommend either book to anyone who wants to know why the U.S. is in a recession, and most important, what you can do to protect your savings. The fundamentals of the U.S. economy are not sound, it is a house of cards that may be about to come tumbling down. more…
Free market capitalism is morally neutral. It’s possible to accumulate great wealth by curing cancer or by selling cocaine. We can do good or evil and be well paid for either or both. The role of the government should be to ensure that those who hurt others in pursuit of wealth are punished and that those who help others along the way are encouraged. – Dick Morris & Eileen McGann (Fleeced)
The recent release of Michael Moore’s movie Capitalism: A Love Story and the current economic situation has prompted me analyze the merits and faults of capitalism. Though I have not seen this movie yet it has provoked interesting discussions with friends about it. So what exactly is capitalism and is it really to blame for the recent economic crisis?
Websters Dictionary defines capitalism as “an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market.”
If you adhere to this definition can America even consider itself to be a capitalistic society? I do not know a lot about the Federal Reserve, and there are some out there who believe we should end the Federal Reserve or at least audit it. Ron Paul is an advocate of this and I intend to read his book End The Fed.
If the government interferes with interest rates and does not let the market correct itself then it is not a “free market”. If the government provides “bail outs” for corporations that take unnecessary risks and makes bad decisions then it does not sound like Capitalism to me.
I started this post with a quote from a book I have recently read “Fleeced“, written by Dick Morris & Eileen McGann. He makes a good point in stating that capitalism is “morally neutral”. In a perfect world companies would make a profit without harming other people. Capitalism is not evil but GREED is. I think this quote is very accurate. The role of the government should be to “protect” us if a company harms others in the pursuit of wealth. The problem is often a “conflict of interest” if the corporation a politician regulates contributes to his or her campaign. (The influence of lobbyists is a completely different topic of discussion which I will explore in depth later).
What is the alternative to a capitalistic society? I recently read Atlas Shrugged by Ayn Rand. Though it is fiction it really captured the flaws of Socialism and demonstrated how much harm can be done in the name of public good. (But more on that later. )
Please post a Comment – and let others benefit from your wisdom. Thanks
