Economics Questions

Re: ...it's Greek to me

Michael J Green — Thu, 27 Sep 2012 03:45:51 GMT

LOL, what?

I'm with Wheylous: all this guy seems to do is describe certain theoretical tools (this is prisoner's dilemma, this is pareto efficiency) and then... capitalism fails? I'd provide a counterargument, but there really is no argument in the first place. Just "here's one problem man must contend with, so capitalism is bad."

And a hint: if someone says economists think the free market is "almost magical," that probably means they don't understand the arguments for a market system. They've failed the ideological Turing test.

Re: ...it's Greek to me

Wheylous — Thu, 27 Sep 2012 01:54:52 GMT

From what I saw, stupid argument - just write "iterated prisoner's dilemma."

And even IF capitalism suffered from this problem, there's no evidence presented that government can or would solve the problem.

...it's Greek to me

vicki jean — Thu, 27 Sep 2012 01:04:02 GMT

https://www.facebook.com/#!/notes/brad-lee-greasy-nichols/message-to-capitalists-youre-clearly-wrong/10100282073748985 this was posted on a forum debate page I was invited to on FB. He has asked for thoughts on it before he writes it up. Not being familiar with this subject I thought I'd see if anyone here has any thoughts on this.

Thanks in advance to anyone with more ability than I that is willing to explain