[ExI] Belief in Market Efficiency

[Stathis Papaioannou]

2009/2/8 Stefano Vaj <stefano.vaj at gmail.com>:
> On Sat, Feb 7, 2009 at 1:35 PM, Stathis Papaioannou <stathisp at gmail.com> wrote:
>> People willingly vote to be taxed.
>
> ... which does not say anything on whether they are right to do so, or
> whether they actually have any other option in our current political
> regimes, where the ruling classes have a vested interest in protecting
> a system on which their job and power depend.
>
> I am *very* far from Mirco's positions, but sometimes they are
> liquidated just a little too easily.

Obviously it's facile to maintain that everything in a (nominal)
democracy has been put to the vote, therefore it must be OK. But I was
pointing out that there is this possible arrangement whereby I might
vote to have myself forcibly taxed, on the condition that everyone
else is also forcibly taxed. This is a voluntary contract despite the
fact that I may be coerced, since I am agreeing to be coerced. On the
other hand, if we allow anyone who doesn't agree to the contract to
opt out of it then it would never work: even if all the voters were
willing to be taxed if everyone else was also taxed, all might decline
to be taxed if by so doing they could opt out of the tax.


-- 
Stathis Papaioannou