[ExI] retrainability of plebeians

BillK pharos at gmail.com
Tue Apr 28 14:39:18 UTC 2009

On 4/28/09, Dan wrote:
>> No.  The law of supply and demand is not a law people merely adhere to casually
> -- because they're too stupid to see real value -- or a law that they adhere to
> because of ideological predilections.  It merely states what's inescapable.
> The reason some people in the entertainment industry are paid a lot is because
> they are, for whatever reason, highly demanded or (inclusive "or") in short supply
> as compared with others -- say, farmers, mathematics professors,
> trauma surgeons, and caretakers.
>  What you've stumbled onto, too, is the what diamonds and water paradox:
>  http://en.wikipedia.org/wiki/Paradox_of_value

That's what I said.  :)  You have to start discussing complex theories
of 'value'.

Supply and demand is not a law. Lots of things the public wants, they
can't get. And lots of things available, they don't really want. But
you have to make do with what is available.
In olden times, you had to pay the strolling minstrel to hear him
sing. Nowadays, everyone that sees or hears anything could be
recording it.
I've been to concerts where the band announced they would not be
playing anything from their latest recordings because of the danger of
surreptitious recording. So the audience were treated to 'Their
greatest Hits' of years past.  (Still enjoyable).

>  I'd also point out, too, that with regard to entertainers who make a lot of money,
> the judgment that they make too much (or too little) is subjective and merely
> signals the judge's particular subjective values.  Yeah, you and I probably think
> that a highly paid sports star is not of any value to us.  But the thing she or he is
> obviously of value to others -- that is, they value her or his entertainment more
> than other options, hence they're willing to trade other values (e.g., money) for it.
> (And all that would happen if you or I or Rafal or a group of people were to decide
> who gets paid what is merely to substitute our value judgments for those of the
> people who actually pay lots, say, to see their favorite team play.)*
>  Of course, this is ignoring the myriad government interferences in the market,

Not the evil government again!  Boo! Hiss!  ;)
It is also ignoring all the 'entertainment industry' interference in
the market, with all the manufactured boy bands, promotions, etc.
manipulating the market.
It is also ignoring all the crooked dealers in the market, like the
financiers out for as much as they can con people for.

'Supply and demand' is like the 'free market'. They are mythical
beasts that never appear in our day to day world.


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