Market Inefficiency

[newsish]

Run time: 07:24 https://www.youtube.com/watch?v=p9qwmY0n3FA   Posted on YouTube: January 25, 2010 By YouTube Member: Views on YouTube: 0   Posted on DU: January 26, 2010 By DU Member: newsish Views on DU: 574

 

[JDPriestly]

1. K&R

Great video.

[jgraz]

2. Excellent rant, but why the disclaimer?

You start with "Certainly, I'm a capitalist and I like capitalism...", then you go on to explain (very effectively) why anyone who believes in capitalism is an idiot (paraphrasing, obviously).

Well, I'm not a capitalist and I hate capitalism -- especially how it's practiced today. Maybe it's time that we stopped adding disclaimers and apologies for pointing out that the current system just isn't working.

[newsish]

3. Capitalism

I also meant that in the context of the fact that I am a business owner and thus literally a "capitalist" in the Marxist-classist sense of the word. But generally, the word "capitalism" is pretty meaningless by now. Capitalism is anything that's not socialism, and socialism is anything that's not capitalism. Obviously that's not much a definition.

[Confusious]

4. Well maybe if we put some effort into it

We could make it better.

If you a communist, well that's a total failure.

If your a socialist, well that's what's being talked about in this video. Adding to make something better, not dumping it for something that doesn't work at all.

If your something else, well why don't you get off your ass and explain it, instead of criticizing.

Capitalism has it's good points, and a lot of bad points. Good points being a incentive for people to do better. Bad points are people who game the system, and athletes who make millions of dollars.

Easy fix for the athlete/ teacher : Raise taxes on the athlete, corporations. Get the money to pay for the teachers.

[newsish]

7. Labelling

"If your something else, well why don't you get off your ass and explain it"

I've long tried to think of a clever name, but in reality it's just not being stupid. "Hey, this policy will make the economy more efficient - more people can eat. OK, let's do that."

But I have to say this whole baby-boomer generation obsession with labels is rather stupid. It's a tool to manipulate simple-minded people into making bizarre decisions in the name of some meaningless ideology instead of making smart decisions with tangible benefits.

Realism, maybe?

[Confusious]

8. As they say

"Common sense is not so common"

"But I have to say this whole baby-boomer generation obsession with labels is rather stupid. It's a tool to manipulate simple-minded people into making bizarre decisions in the name of some meaningless ideology instead of making smart decisions with tangible benefits."

We have labels so people have a frame of reference. Calling something "thingamajig" really doesn't work when you have 10,000 thingamajigs.

Running around talking about some other plan besides "capitalism" or "communism", with no name attached implies you have no clue as to what your plan is.

"Just don't be stupid" isn't a system, it's a mantra.

Another:

"Stupid is as stupid does" - If we elect these people who do stupid things, what does that say about us and your plan of "Just don't be stupid"

[newsish]

9. Stupid

"what does that say about us and your plan of 'Just don't be stupid'"

Hey - I didn't say it was going to work, just that it isn't stupid.

I'm pretty sure we're all screwed, but why not point out our errors on the way down?

[dbmk]

5. You can actually be a capitalist

..and think that a totally free market is not working in an efficient way.

[jgraz]

6. I understand that.

It's just that every time anyone criticizes capitalism, they always preface it with a standard disclaimer about how much they love capitalism. Capitalism (or whatever we practice in this country) has dragged us to the edge of the cliff and is about to chuck us over. It's no longer necessary to proclaim how wonderful our system is. We all know it sucks.