[ExI] Belief in Market Efficiency

[Stefano Vaj]

On Sun, Feb 1, 2009 at 11:14 PM, painlord2k at libero.it
<painlord2k at libero.it>wrote:

> In a free market, wealth not used or not invested wisely will, with the
> time reduce. The owner will need to continue to consume to sustain
> himself/herself.


Yes, this used to be the case even in aristocratic times, and it still
would, were it not for the paradoxical nature of monetary wealth, not to
mention of "money as debt". :-)

In fact, however, Social Darwinism itself started as a *leftist* movement in
the sense that it felt that there were classes effectively protected and
shielded, by the legal and economic system in place, from social
competition. The fact that contemporary left is instead mainly positively
preoccupied with the protection of lower classes should not obscure the fact
that such phenomenon is still very present at the top of the social ladder.

The fact that to do for an indefinite period of time might well be
impossible does not tell us anything against the idea that society as a
whole would be more efficient - and individual "justice" would be enhanced -
by *accelerating* their demise.

Stefano Vaj
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