[ExI] Belief in Market Efficiency
sjatkins at mac.com
Sat Jan 31 07:44:01 UTC 2009
Stathis Papaioannou wrote:
> 2009/1/31 spike <spike66 at att.net>:
>> Yes and I am in full agreement with the commies on that. In fact I agree
>> with them up to the point when they reach for my wallet, at which time we
>> have an instant and massive divergence of opinion. If the commies will give
>> up their own money according to their own abilities, giving to those who
>> need, and keep their grubby paws off of my money, I have no objection to
>> communism at all.
>> My own version of communism would run like this: From each according to his
>> ability, to each according to his need, up to each to decide his own
>> abilities and needs.
> "From each according to his ability, to each according to his need" is
> not the central idea of communism. If there is one central idea in
> Marxist economic theory it is that the wealth of society is produced
> by workers - labourers, intellectuals, managers - and, therefore, the
> wealth that accrues to a capitalist must be stolen.
Try employing any of those people, or let them do much of anything
without any working capital. If you can, then the "capitalist" would be
out of a job with no revolution needed, right? If you cannot, then
something is wrong with the theory.\
> The communist
> would therefore agree with you that a person should keep the fruits of
> his labour. An exception might be made on compassionate grounds for
> transferring some wealth to those who are poor and unable to work, but
> certainly not for transferring wealth from the workers to the rich and
Either I keep what is my own to dispose of it as I wish or I do not.
Why is it up to someone else what part of my wealthy goes to those some
may judge to be poor and needy? So the only sin is for your work to be
voluntarily judge to be of more value by those who wish to acquire it
than the work of your neighbor?
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