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Re: "prakash chandrashekar" <prakash7uc@rediffmail.com>



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"prakash  chandrashekar" wrote:

> ...... I think that the lack of private universities is only because of
> legal restrictions and the lack of large fortunes for philanthropy. Free
> the market and you can get both.

you seem to be arguing that since capital accumulation [with an individual]
is not allowed to occur, large capital intensive operations [such as a
university] are not possible, so for large scale intituitions to be created,
we must allow individuals to accumulate capital so they can
create and control these intituitions.

i might point out that this is parallel to the
argument put forward to justify state owned enterprises: since large
operations
require large capital inputs, it is desirable to give the state the power to
raise this capital [and for those who control the state, power over the
capital and the intituitions created].

the first argument relies on the virtue of the capitalist-philanthropist to
not
misuse the power that comes from having control of capital and
intituitions. the second relies on the virtue of controllers of state capital
and power to not abuse their power.

given that most private large capital accumulation is not characterised by or
driven by philanthropic motives, and likewise neither is the accumulation
of political power [infact both are frequently characterised by what we might
call 'criminal'],
the assertion that "Free the market and you can get .."
is parallel to arguing "Free the state [give the rulers more power] and you
can
get .."

the bottom line is that allowing unchecked power to anyone politician or
capitalist
is not going to advance society as a whole but will only advance the
welfare of
those people who hold disproportionate power over others.


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