[ExI] Belief in Market Efficiency

[painlord2k at libero.it]

Il 04/02/2009 6.43, Stathis Papaioannou ha scritto:
> 2009/2/4 painlord2k at libero.it<painlord2k at libero.it>:
>
>> Look at Sweden, it went from an income of 130% in respect of the
>> mean (100%) income of the more developed countries in 1950 to the
>> current 80%. They lost 1/3 of their wealth in the process of
>> enacting their welfare state and it is dubious they will be able to
>> keep their current status. This is happening in all Europe (and in
>> the USA, Canada) in a way or in another.
>
> This is a terrible example to use in support of your case. The
> Swedish Social Democratic Party, based on a non-revolutionary
> revision of Marxism, has been almost continuously in power for most
> of the twentieth century, and has overseen Sweden's elevation in that
> time from one of the poorest nations in Europe to one of the
> richest.

The same party that enacted and maintained the forced sterilization of
"unfits" until the '70?

from Wikipedia
http://en.wikipedia.org/wiki/Eugenetics
http://www.wsws.org/articles/1999/mar1999/euge-19m.shtml

> the second largest known [forced] eugenics program, created by social
>  democrats in Sweden, continued until 1975

What you miss is the number of economic crisis the Sweden have experienced.

http://en.wikipedia.org/wiki/Economy_of_Sweden
> In the 1980s, a real estate and financial bubble formed, driven by a
> rapid increase in lending. A restructuring of the tax system, in
> order to emphasize low inflation combined with an international
> economic slowdown in the early 1990s, caused the bubble to burst.

This remember me something?
Do you?

> (http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)_per_capita).

 > There is no rule in socialism that says the government must
> continuously ramp up spending every year, the path that it seems the
> US has taken since Reagan's presidency.

It is not that they must rump up spending.
It is that they spend in a not rational way, because they lack the 
ability to calculate the monetary value of things.
Bigger the state proportionally to the wealth created, less is the 
ability to calculate. Not only for the state bureaucrats, but also for 
the people that use or receive the services / goods.

They can be illuminated and well meaning, but they are blinded (more or 
less) when they use the state and a bureaucracy to do things.

Mirco