[ExI] Belief in Market Efficiency

[Stathis Papaioannou]

2009/2/5 painlord2k at libero.it <painlord2k at libero.it>:

>> (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.

You've ignored my original point, which is that Sweden has one of the
highest per capita GDP's in the world, higher than that of the US in
2007 according to the Wikipedia article above, despite a century of
mostly socialist government. How do you explain this?


-- 
Stathis Papaioannou