"Andy Asberry" wrote in message
news
On Tue, 16 Oct 2007 22:31:47 -0400, "Ed Huntress"
wrote:


"Louis Ohland" wrote in message
...
Consider what happens in countries without legal protection of property.
Anyone can help themselves to your stuff when they want. Capital
formation
is extremely difficult, if not impossible, in those circumstances.

Pffhhht. That has nothing to do with it. You're letting your theories run
away from reality.

Here in NJ you can't shoot someone to protect property. We have no trouble
at all with capital formation.

The whole thing is about philisophical ideas of what is right. In Texas
and
other traditional places, their idea of right and wrong is offended if
people can steal property without a chance of getting their guts blown
out.
That's fine for them, if that's what they need to keep their rights and
wrongs intact. It also applies in the third world and a few other
backwaters.

But don't try to tell us it's going to affect "capital formation." That's
letting your theories run away with you.

I'm not so sure, Ed. Let's reduce this to its simplest form. You are
"the" banker, I'm your customer. I've been repeatedly robbed or
burgled. My insurance has been canceled. How many times will you lend
me money to retool or restock?

If you've been repeatedly robbed or burgled, and you come to me for a loan,
I'm not giving you squat -- and I don't care how many guns you have. If your
home or business is located in a place like that, you're radioactive as far
as a bank is concerned.

--
Ed Huntress