Hello Ashok!

So nice to hear from you, and I am so glad that you have commented. Thank you for your extended, and thoughtful comments. Future posts will demonstrate that markets are never "free," and having nothing to do with those dreaded central planners; governments; their agents, such as regulators, and the like. I am not wed to the possible remedies I suggested. But in a world with growing population and growing environmental degradation, I believe we need to be more circumspect about some of our choices with resources. I also think, as an investor, we frequently have a schizophrenia about markets. On one hand we trust them as arbiters of value as cold, steely capitalists. But on the other, we think that they misprice securities and therefore justify active management. I believe pointing out markets' imperfections is healthy for those that participate in them.

Do you have any suggestions for prescriptions? If not, maybe this is an opportunity to stretch yourself and stretch all of us by putting your brilliant mind to work.

Separately, the language in your last paragraph worries me. This is far from a 'manifesto,' don't you think? I know you tried to soften those words, and I recognize my article has flamed your passions, but I request more thoughtful comparisons, if possible.

Again, thank you for taking the time to comment.

Yours, in service,

Jason