You don't have to be a communist to admit capitalism is in crisis

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SteveFoerster
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Re: You don't have to be a communist to admit capitalism is in crisis

Post by SteveFoerster » Fri Jun 02, 2017 1:13 pm

Sertorio wrote:
Fri Jun 02, 2017 11:34 am
SteveFoerster wrote:
Fri Jun 02, 2017 11:24 am
And once markets are protected from manipulation by private interests, there is no reason why socialism cannot accept a free market system.
What exactly do you think markets are if you don't understand that they are merely the sum total of private interests balanced against one another? The only manipulation is from rent seekers exploiting political power, and the only way to protect from that is to reduce political power as much as possible.
The trouble is that you can't stop rent seekers from exploiting political power. Money is the most important source of power, so you can only control rent seekers by preventing great concentrations of money, and by taking financial institutions away from the hands of those rent seekers.
There is a way to stop rent seekers from exploiting political power, and that is to eliminate political power or at least to minimise it as much as possible -- just one of the many benefits to doing so.
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Sertorio
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Re: You don't have to be a communist to admit capitalism is in crisis

Post by Sertorio » Fri Jun 02, 2017 2:12 pm

SteveFoerster wrote:
Fri Jun 02, 2017 1:13 pm
There is a way to stop rent seekers from exploiting political power, and that is to eliminate political power or at least to minimise it as much as possible -- just one of the many benefits to doing so.
I am a bit of an anarchist myself, but I don't believe you can eliminate political power in the way you mean...

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Re: You don't have to be a communist to admit capitalism is in crisis

Post by SteveFoerster » Sat Jun 03, 2017 7:50 pm

Sertorio wrote:
Fri Jun 02, 2017 2:12 pm
SteveFoerster wrote:
Fri Jun 02, 2017 1:13 pm
There is a way to stop rent seekers from exploiting political power, and that is to eliminate political power or at least to minimise it as much as possible -- just one of the many benefits to doing so.
I am a bit of an anarchist myself, but I don't believe you can eliminate political power in the way you mean...
You may say I'm a dreamer, but I'm not the only one.

Besides, even minimising political power helps fight crony corporatism, and in proportion to the amount it's minimised. Start hacking with the machete and see how it goes.
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President of New World University: http://newworld.ac

neverfail
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Re: You don't have to be a communist to admit capitalism is in crisis

Post by neverfail » Sun Jun 04, 2017 2:06 am

SteveFoerster wrote:
Sat Jun 03, 2017 7:50 pm
Sertorio wrote:
Fri Jun 02, 2017 2:12 pm
SteveFoerster wrote:
Fri Jun 02, 2017 1:13 pm
There is a way to stop rent seekers from exploiting political power, and that is to eliminate political power or at least to minimise it as much as possible -- just one of the many benefits to doing so.
I am a bit of an anarchist myself, but I don't believe you can eliminate political power in the way you mean...
You may say I'm a dreamer, but I'm not the only one.

Besides, even minimising political power helps fight crony corporatism, and in proportion to the amount it's minimised. Start hacking with the machete and see how it goes.
Dream on!


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Sertorio
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Re: who said that a higher minimum wage costs jobs?

Post by Sertorio » Sun Jun 11, 2017 4:46 am

It has long been obvious to me that minimum wage increases of about 10% will have no negative impact on employment, and will boost aggregate demand. Which is quite understandable for anyone with some knowledge of economics.

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cassowary
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Re: who said that a higher minimum wage costs jobs?

Post by cassowary » Sun Jun 11, 2017 6:40 am

neverfail wrote:
Sun Jun 11, 2017 2:14 am
TESTIMONY


and in the USA.

http://www.nelp.org/publication/raise-w ... nt-levels/
Interesting you pick a study written by a pair of non-economists. I prefer to place my confidence on Milton Friedman, who won the Nobel Prize for Economics.


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Re: who said that a higher minimum wage costs jobs?

Post by SteveFoerster » Sun Jun 11, 2017 7:18 am

Sertorio wrote:
Sun Jun 11, 2017 4:46 am
It has long been obvious to me that minimum wage increases of about 10% will have no negative impact on employment, and will boost aggregate demand. Which is quite understandable for anyone with some knowledge of economics.
Unemployment has gone up in U.S. cities that adopted a $15/hour minimum wage, restaurants in particular have been hard hit, including with closures. Which is quite understandable for anyone with some knowledge of economics.
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Sertorio
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Re: who said that a higher minimum wage costs jobs?

Post by Sertorio » Sun Jun 11, 2017 9:30 am

SteveFoerster wrote:
Sun Jun 11, 2017 7:18 am
Sertorio wrote:
Sun Jun 11, 2017 4:46 am
It has long been obvious to me that minimum wage increases of about 10% will have no negative impact on employment, and will boost aggregate demand. Which is quite understandable for anyone with some knowledge of economics.
Unemployment has gone up in U.S. cities that adopted a $15/hour minimum wage, restaurants in particular have been hard hit, including with closures. Which is quite understandable for anyone with some knowledge of economics.
Why would restaurants be particularly hard hit, if all of them would have to apply the new minimum wage? How many people would stop going to restaurants if meals became a couple of bucks more expensive?... Maybe the economics you studied (?) are different from those I did...

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SteveFoerster
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Re: who said that a higher minimum wage costs jobs?

Post by SteveFoerster » Sun Jun 11, 2017 1:52 pm

Sertorio wrote:
Sun Jun 11, 2017 9:30 am
SteveFoerster wrote:
Sun Jun 11, 2017 7:18 am
Sertorio wrote:
Sun Jun 11, 2017 4:46 am
It has long been obvious to me that minimum wage increases of about 10% will have no negative impact on employment, and will boost aggregate demand. Which is quite understandable for anyone with some knowledge of economics.
Unemployment has gone up in U.S. cities that adopted a $15/hour minimum wage, restaurants in particular have been hard hit, including with closures. Which is quite understandable for anyone with some knowledge of economics.
Why would restaurants be particularly hard hit, if all of them would have to apply the new minimum wage? How many people would stop going to restaurants if meals became a couple of bucks more expensive?...
Because "mass production" restaurant chains can absorb artificially higher costs like minimum wage hikes better than mom-and-pop places can. You'll still have McDonalds and Olive Garden, you'll just lose all the singular places that actually give a neighbourhood some character. That's the unseen effect of most regulations, in this and every other area of economics: they benefit large corporations at the expense of upstarts.
Maybe the economics you studied (?) are different from those I did...
Finally, an area where we can agree.
Writer, technologist, educator, gadfly.
President of New World University: http://newworld.ac

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