Jeremy Grantham photo and quote from Investing Prophet Jeremy Grantham Takes Aim at Climate Change at https://www.bloomberg.com/news/articles/2019-01-17/jeremy-grantham-s-1-billion-plan-to-fight-climate-change

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Comment by Joan Denoo on April 16, 2019 at 1:53am

My humble apologies, Ruth, I read the  Grantham article and forgot that you introduced it to us. I overdid quotes from the piece, but I am so encouraged by what I read, I just plowed in as though I were the finder of this valuable piece. 

Comment by Grinning Cat on April 15, 2019 at 6:40pm

Realizing that the quote ought to be googleable from this page, so I'll repeat it here: "Capitalism has a severe problem with the very long term because of the tyranny of the discount rate, anything that happens to a corporation over 25 years out doesn't exist for them. Therefore, grandchildren have no value."

Comment by Grinning Cat on April 15, 2019 at 6:37pm

Some "free" marketeers, like the current occupant of the White House, might not even care much about their own family!

Related: The Myth of the ‘Free Market’ and How to Make the Economy Work for Us (Robert Reich at Alternet)

Comment by Tom Sarbeck on April 15, 2019 at 12:35pm

Thanks, Ruth, for the Grantham article. It tells readers he has warned us.

“You must not expect unnecessary good behavior from capitalists,” he says. The answer, he adds, is strong regulations: “I’m sorry, libertarians, it is the only way.”

He has probably paraphrased von Clausowitz with An unregulated free market is war by another means.

More than grandchildren are in danger; so are all those outside a free marketeer’s family.

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