Pinster on Irish Times letter's page?

Anyone see today’s IT Letter’s page under the economy debate. Looks like someone from this parish managed to get past Madam Editors watchful gaze. Well done to whoever it was. Don’t have access today but someone who does might throw it up.

This one I presume? It does all sound rather familiar :slight_smile:

Link

TH of Dublin 9, come out and take a bow

a superb piece

2Gaffs is that you?

-Rd

First time poster, longish time lurker!

I wrote the letter. Due to my occupation, I was not in a position to use my real name. TH is a Pseudonym.

And an EA at that :slight_smile:

Welcome Rick.

Nice one!

-Rd

Deserves a special Pinnie award for the best first post. :wink:

Well done Rick Flair. Off the top rope, you might say. :laughing:

There were letters in various papers on a regular basis through 2006 and 2007 (and maybe earlier) warning of what was coming.

Getting a letter in the paper is no indication that anyone is listening.

I think a lot more people are listening if you take various Pinster’s anecdotes e.g. about elderly neighbours talking about house prices falling and recession.

It’s all about timing. This letter hits home the fact that blame should be apportioned for the “most successful con-job in Irish history” and in furious doses. :imp:

Thanks to all of you who complimented my efforts.

I have a simple philosophy on all of this. One of the roles of government is to protect the citizenry from the darker forces of capitalism. To shield them from those who would exploit them for financial gain. Not everyone requires this protection but lots do.

In my view, in relation to the housing market, the government has failed in this obligation. Wilfully and shamefully. Most people who read and contribute to the Pin know this. They also know that we are a minority. The majority are unaware of the nature of the grand deception that has been perpetrated.

At the risk of sounding melodramatic, I think it is incumbent on those of us who know the truth to, in any way we can, share this knowledge with others so that they might better inform their decisions. We should also not shy away from apportioning blame. There were villains in this panto and people should know who they are.

Congratulations to everyone here for making the Pin a national treasure!

I’d take it a bit further - the only role of government is to protect the citizenry from the darker forces of capitalism (and only the darker forces).

Indeed - worse, being allegedly ‘objective’ in all this meant the people expected the government would deliver if anything bad happened - hence the whole ‘the government won’t allow a property crash’ refrains etc.

So how do you define the “darker forces”? As opposed to the Jedi of capitalism… :wink:

May the Forbes be with you 8)

You might enjoy reading The Shock Doctrine (Naomi Klein) - an excellent read on how the global move to Chicago School economics has eroded the ability of elected governments to protect their citizens. I’m afraid it isn’t just an Irish phenomenon.

+1 !

Hehe - it’s actually not too difficult. What you need to do is make sure that the individuals within the system ‘accidentally’ do good for the overall society, while attempting to do good only for themselves. This is self-evidently a far more powerful motivator for most people than merely hoping they find helping society a sufficient motivation.

For example, the ‘ideal’ scenario in capitalism is an effective competitive market - several players, competing for business, and each believing that if they do the job better, cheaper, quicker etc, they’ll be rewarded by more business and more money.

However, there’s a fairly common scenario is where business A does a good job for a while, establishes a dominant position, and can, thanks to this dominant position, do a worse job in future, but not really suffer for it. Now we have two problems: Business A can put its feet up and never suffer, and Business B has no incentive to do better, as it will make no substantial gains even if it does so - so it stays in its niche, and doesn’t push itself either. Thus the free market mechanism has been distorted and now fails to motivate either business.

Likewise, you have to prevent “tradegy of the commons” scenarios (pollution being the big one at the minute), and prevent blatent fraudulant behaviour.

Wooooooooooooooooooooooooooooooooooooooo! :laughing: