Why Capitalism Can’t Meet Human Needs (1 Viewer)

[scuba_steve2121]

I'd just like to point out the whole article is talking about people losing jobs and everybody losing money, which as most of u should know was caused by this thing that the government invented. hmm what was it called? oh that's right central banking! don't blame capitalism blame the government institutions who fucked with it and continue to fuck with it

 

[SylviaB]

we need a gubbamint what to keep us in line n that

wait you're not trolling..are you?


-_-

 

[-Lemon-]

no but srsly

all ur free market reasoning is pretty sound, in economic/mathematical/game theory terms

Incorrect, the mathematics shows that whenever markets are incomplete and /or information is imperfect (which are true in virtually all economies), a competitive market allocation is not constrained Pareto-efficient
In other words, there almost always exists schemes of government intervention which can induce Pareto superior outcomes, thus making everyone better off.

it ignores the fundamentally tribal and quasi-rational nature of humans... we like to form groups behind a big colourful flag, and belong to groups; we're primates that evolved in a savannah, not computers that find the most effective solution to a selection of problems

Incorrect, the word 'rational' merely refers to the assumption that preferences are transitive, it does not mean people 'make wise choices' or 'good at calculations' or something...
you simply have no clue what your talking about

The original article is correct in asserting that laissez faire capitalism is a bad system, but I don't agree with most of the subsequent recommendations.

 

[SylviaB]

Incorrect, the mathematics shows that whenever markets are incomplete and /or information is imperfect (which are true in virtually all economies), a competitive market allocation is not constrained Pareto-efficient
In other words, there almost always exists schemes of government intervention which can induce Pareto superior outcomes, thus making everyone better off.

bahahahahahaha haha you don't know what the fuck you're talking about

 

[-Lemon-]

bahahahahahaha haha you don't know what the fuck you're talking about

Pardon? Take a read..it's not an opinion it's a mathematical fact.


Greenwald, Bruce and Joseph E. Stiglitz. 1986. Externalities in economies with imperfect
information and incomplete markets. Quarterly Journal of Economics 101: 229-
264.

Bernanke, Ben S. and Mark Gertler. 1990. Financial fragility and economic performance.
Quarterly Journal of Economics 105: 87-114.

Now go back to studying for your TAFE basket weaving exam.

 

[BigBoyJames 007]

Fuck this shit, fuck capitalism, socialism and communism. Implement Islam, it is the greatest economic leveler the our entire human existence has ever witnessed.

hi guyz/

 

[SylviaB]

Bernanke, Ben S. and Mark Gertler. 1990. Financial fragility and economic performance.
Quarterly Journal of Economics 105: 87-114.

hahahahahahahahahah

 

[BigBoyJames 007]

 

[Richard Gilmore]

bahahahahahaha haha you don't know what the fuck you're talking about

If it's an outrageous point of view, why not easily disprove it instead of laughing like the dimwit that you are.

 

[-Lemon-]

hahahahahahahahahah

heh..when you get confronted with the facts that falsify your bizarre quasi-religious views you 'laugh'
Reminds me of when creationist laugh at the claims of evolution.
Nauseating.

 

[Richard Gilmore]

he is a turd, so don't worry too much about it.

 

[TacoTerrorist]

Hey come on team we're all friends here. Even though we may disagree with his views, he is at least intelligent and well meaning, and has the courage to speak up and defend what he believes in. Far better than most people (not on these boards) who simply drift through life like an automaton with no concern other than what's on the idiot box.

 

[loquasagacious]

Hey come on team we're all friends here. Even though we may disagree with his views, he is at least intelligent and well meaning, and has the courage to speak up and defend what he believes in. Far better than most people (not on these boards) who simply drift through life like an automaton with no concern other than what's on the idiot box.

.

 

[SylviaB]

heh..when you get confronted with the facts that falsify your bizarre quasi-religious views you 'laugh'
Reminds me of when creationist laugh at the claims of evolution.
Nauseating.

okay, give me an example of where government intervention can increase Pareto Optimality

 

[Richard Gilmore]

Hey come on team we're all friends here. Even though we may disagree with his views, he is at least intelligent and well meaning, and has the courage to speak up and defend what he believes in. Far better than most people (not on these boards) who simply drift through life like an automaton with no concern other than what's on the idiot box.

i think i've given my fair share of original content to the bos forums.

 

[jennyfromdabloc]

no but srsly

all ur free market reasoning is pretty sound, in economic/mathematical/game theory terms

but

it ignores the fundamentally tribal and quasi-rational nature of humans... we like to form groups behind a big colourful flag, and belong to groups; we're primates that evolved in a savannah, not computers that find the most effective solution to a selection of problems

HENCE

we need a gubbamint what to keep us in line n that

The idea is that we control our most base instincts in pursuit of something better, rather than institutionalizing ape like tribalism.

 

[Kim Il-Sung]

The idea is that we control our most base instincts in pursuit of something better, rather than institutionalizing ape like tribalism.

human nature is human nature and suggesting that it can be changed or controlled in pursuit of some subjective ideal is freakish leftist bullshit

 

[-Lemon-]

okay, give me an example of where government intervention can increase Pareto Optimality

Awful syntax,
You don't 'increase Pareto Optimality', an allocation of resources is either Pareto Optimal or Not Pareto Optimal.
A state of affairs is said to be Pareto Optimal if no reallocation of resources can make each agent better of.
A Pareto Improvement occurs when a reallocation of resources makes each subject better off without making anyone worse off.

If you read the papers I linked they prove how market equilbria are rarely Pareto Optimal in the presence of imperfect information.
I.e free markets rarely achieve an efficient allocation of resources.

 

[SylviaB]

i know what it means you fuckwit who gives a fuck

im not reading through some fucking papers by people like bernanke, especially given you didnt even link to them

 

[jennyfromdabloc]

human nature is human nature and suggesting that it can be changed or controlled in pursuit of some subjective ideal is freakish leftist bullshit

"Man does not ravish every female that stirs his senses; he does not devour every piece of food that entices him; he does not knock down every fellow he would like to kill. He arranges his wishes and desires into a scale, he chooses; in short, he acts.

What distinguishes man from beasts is precisely that he adjusts his behavior deliberatively. Man is the being that has inhibitions, that can master his impulses and desires, that has the power to suppress instinctive desires and impulses."