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[quote user="Anarchist Cain"] http://mises.org/Community/forums/t/8534.aspx?PageIndex=6 Communism has existed. Don't try to hoodwink the populace into stepping into the memory hole so we can try that which has fail. [/quote] But I thought praxeology states that human action is too complex and its results too subjective to be measured by
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[quote user="TastyWheat"]In an anarchist society I would agree with the views of Stirner and Tucker (if you can successfully defend it, it's yours). However, in a civilized and organized society where government assumes the role of protector it is much more difficult. The government, while not specifically staking claim to any land, does
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[quote user="Zavoi"]Most negative externalities can be handled by property rights. For example, a polluter can be forced to compensate the victims of pollution because this is a violation of their property rights.[/quote] Well I don't think my fireproofing example could be done this way. Or consider a situation where someone refuses to
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[quote user="JackCuyler"] That perfectly illustrates my point abount subjective value. As for the value of services: A has a broken watch. A has a necktie B has the ability to repair watches. A values a working more than his broken watch and his his tie combined. B values the tie more than whatever else he would be doing for the period of
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inefficient in the sense that a change in the allocation of goods could make one party better off without making any other party worse off. It's called pareto efficiency .
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well the point is they can result in inefficient outcomes.
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Ah I see what you're saying stranger. Giles explained it.
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In economics, an externality is a spillover of an economic transaction which has an impact on a party not immediately involved in the transaction. The significance of externalities arises when a consumer in a free market makes an economic transaction out of his own self-interest which has an effect on either individuals around him or on society as a
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[quote user="Stranger"] [quote user="majorthreat"] [quote user="Stranger"]What is the difference between land created in Dubai and land created on the moon? In both cases it requires a significant capital investment to settle it.[/quote] well one is physically created by someone and the other exists independent of any human
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[quote user="Stranger"]What is the difference between land created in Dubai and land created on the moon? In both cases it requires a significant capital investment to settle it.[/quote] well one is physically created by someone and the other exists independent of any human action.