[ExI] How slow is capitalism?

[F. C. Moulton]

On 04/27/2011 03:20 AM, BillK wrote:
>
> Capitalism depends on free trade between equals.
> Without that one party is stealing from the other.
>
> In the real world this can never be achieved as two parties won't have
> equal knowledge, ability or experience. If they did then no trade
> would take place.

This is obviously false since even if two parties had equal knowledge,
ability or experience it is possible for the parties to have different
preferences and trade can occur when preferences differ.

And please give a citation for the assertion that "Capitalism depends on
free trade between equals" where by "equals" I take it to mean "equal
knowledge, ability or experience".  I ask for a citation because I can
not recall it ever being made before.

Also the use of the word "stealing" is rather unexpected.  In the real
world any two parties do not have equal knowledge, ability or experience
yet we see economic activity all around us yet we do not call it
stealing.  The local grocery store has much better knowledge, ability
and experience in dealing with selling bananas and yet when I buy a
banana from them I do not call it stealing.

Fred