Posted by Steve on July 04, 2003 at 08:44:51:
In Reply to: Re: Microislet JDRF Hybrid Funding posted by klausen on July 04, 2003 at 01:34:24:
Klausen:
You are quite correct that the amounts are small. But for a charity like the JDRF this is a sea change in funding. Monies in the past were essentially donated to worthy projects. Now there is an exchange. This idea was brought up a couple of years ago and rewards JDRF for making good decisions with their capital rather than just donating the money. It is a very good way of doing research work and I hope will be the pattern for the future.
Of course in the perfect socialist world money would not matter. Nor would price. We would simply determine the best projects and fund then. In fact the altruistic motive may be so great that the researchers may be willing to work for just the basics of life; food, water, heat, and such seeking only the cure for the benefit of mankind. And after the cure is found they will continue to work tirelessly altruistic to see that the cure is disseminated to those in need. What a world.
Milton Friedman on the cover of his book holds a pencil as an example of why socialist/communist systems do not work. It turns out that the materials in a pencil, graphite, rubber, wood, metals, and paint can be difficult to acquire. Further, in a socialist system the state must plan how many to make and were to distribute them. These tasks are impossible for state planners and the system does not work. But for the individual companies with a profit motive they make the right number of pencils with the correctly procured materials and distribute them to the parties in demand or they no longer exist.
It is a good and efficient system that you seem to not be able to understand and you consistently take rhetorical shots at it.
Personally I find you rethoric wanting and useless.
Steve