Tom the Dancing Bug by Ruben Bolling for January 27, 2002

Transcript:

Tom the Dancing Bug by Ruben Bolling Ricky and Debbie Visit ENRON Ricky: Hey! Who are you? Invisible Hand: I'm the Invisible Hand! Debbie: Huh? Invisible Hand: I guide the economy to optimal efficiency through market forces! Ricky: Golly! That's important! Invisible Hand: A good example is Enron! Follow me! Invisible Hand: Enron built its fortunes on the deregulation of the energy industry! Debbie: Cough Cough Ricky: Deregu-WHAT?! Invisible Hand: Ha, ha! That's a fancy word for keeping the pesky government out, and allowing SUPPLY AND DEMAND to set prices! Whoops! Rolling blackouts! Debbie: But doesn't the government set energy policy? Invisible Hand: Yes, but under free market policies, that's sold to the HIGHEST BIDDER -- Enron! Ricky: Who are those people? Invisible Hand: Enron investors and employees. They lost their life savings when mismanagement led to Enron's bankruptcy! I punish those who make BAD decisions! Ricky: Well, who are those guys? Invisible Hand: Enron's top executives! Debbie: But shouldn't the market punish THEIR bad decisions? Invisible Hand: Don't be silly! If executives aren't able to extract hundreds of millions of dollars from a dying company, how will corporations be able to attract the BEST PEOPLE? Executive: Like US! Just leave it to the Invisible Hand! End!