Sorry for the retweet and rephrase, but I think some people thought from the original tweet that Thomas was the economist, rather than him being the person who objected to economics.
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Wasn’t it in response to Malthus’s prediction of overpopulation leading to stagnation in development that Carlyle coined the phrase?
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No, that's often said, but it's wrong. p 677, halfway down the second column:https://babel.hathitrust.org/cgi/pt?id=inu.30000080778727;view=1up;seq=696 …
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I'm curious, what has changed? Modern economic practice seems fine with returning to as close to slavery as possible. Is this a theory/practice divide?
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I'm curious what economists you think have that as a goal. All the economist I know are pretty sure that free markets will result in more freedom, not less.
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I don't follow economic theorists. I just am looking at outcomes, and I don't think capitalism is giving more (freedom seems both vague and wrong) power to individual people.
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Free market capitalism does. Crony capitalism doesn't. That's why you need to distinguish between the two. MUCH of what is criticized as "capitalism" is obviously crony capitalism.
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The regulations that make capitalism less likely to slide into being there crony sort make capitalism less capitalistic. A well regulated market is better, but it is less of a free market.
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Regulations are what create crony capitalism. Do you not see that they get turned against us?
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Hmm, I'm inclined to broadly disagree. The way I see it wealth is gravitational and without rules tends to accumulate in small concentrated pockets. Regulations disrupt this natural corruption and allow it to circulate freely.
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Also, it seems patently obvious that since the majority of rich folks want reduction in regulations that that would be good for them and bad for the rest of us. That should at least be the starting point.
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That generic fallacy though
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And the connection between those two assertions?
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We still don’t likecwhat economists have to say!
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Economics is a social science. Not a hard science.
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Huh. TIL
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