• • FX Trading - All together now: GLO-BAL-IS-M
Jack Crooks, International Business Times Capitalism |Egoism | Rather than further complicate the responsibility of the IMF and formal interconnectedness of national economies, just do away with the whole idea. Let all economies operate with their own interests in mind. And if you think that’s a recipe for chaos, consider this from Ayn Rand: “When a man trades with others, he is counting -- explicitly or implicitly -- on their rationality, that is: on their ability to recognize the objective value of his work. (A trade based on any other premise is a con game or a fraud.) Thus, when a rational man pursues a goal in a free society, he does not place himself at the mercy of whims, the favors or the prejudices of others; he depends on nothing but his own effort: directly, by doing objectively valuable work -- indirectly, through the objective evaluation of his own work by others.” If only wishing could make it so! It seems this mindset would help to flush away the complexities - restrictions, corruption, waste, risk, etc. - of a tightly-coupled global economic system; but it won’t happen in the real world. Instead we are stuck with a whole lot of messiness of self-interests defined by those who don’t have the market’s best interests in mind.