[ExI] Belief in Market Efficiency

[Stathis Papaioannou]

2009/2/1 Stefano Vaj <stefano.vaj at gmail.com>:

> This seems to me a too traditional and theoretical way to iterate such
> an old debate.
>
> The very preliminary issues, IMHO, are:
> - is it useful to allow some people to acquire, or maintain, fortunes
> which vastly exceed what might still have an impact on their
> lifestyle?
> - is it useful to allow some people to dispose of large fortunes which
> they did not "acquire" in any socially, or even Darwinistically,
> meaningful sense?

You could argue that yes, it's useful, since without the lure of such
fortunes certain types of investment with potentially useful
consequences would not be made. But while utilitarianism may save
capitalism, it won't save libertarianism. For the libertarians would
argue that even if a socialist program could be shown to further the
common good, it would still be wrong.


-- 
Stathis Papaioannou