The efficiency of the free market system at allocating resources has got to be one of the most tragically overrated concepts of the 20th century.
Socialism can never work because without free market price signals, there is no way to efficiently allocate resources. There is no way around this central problem.
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But for capitalism you’d be virtually incapable of expressing this viewpoint in a way anyone other than yourself would see or hear.
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For all my genuine praise of capitalism, I will acknowledge that any system that gives us Say Yes to the Dress does in fact have serious flaws.
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A person may not want to sell a good at any price. Impossible to simulate the subjective value.
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Ludwig von Moses proved this over 60 years ago. Called the Socialist Calculation Problem. Without prices it is impossible to know if any economic decision produces more or less resources than it consumes, irrespective of the currency units involved.
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It defies human nature. It's based on the false pretense that we feel represented by an all encompassing government that owns the main means of production. Indeed, nobody takes care of a business like its owner who sees it as an extension of himself. Efficiency it's a consequence
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This is kind of stupid: 1) A high price does not mean that resources are necessarily efficiently allocated (are Versace jeans an efficient allocation of resources, and who is to judge that? 2) "The good", broadly conceived is not synonymous with "that which is efficient".
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Further, what do you mean by work? Work for whom? Additionally, as far as I am aware, there is no broadly accepted methodology for pricing in externalities.
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we the hoi polloi are doing stuff today, not tomorrow, not in ten years, today, government can never manage that
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Central planning worked really well in the USSR, that's why they're such a great world power
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The Socialism proposed today by woke people will have nothing in common with historical academic or political science socialism. Can you Imagine the 'woke' public services. Already seen claim that to change gender should be paid by government.
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NOT true.
#SiliconValley#BigTech and#BigVC SUBSIDIZE product adoption on a free or#freemium model ABSENT "free market price signals" as form of comprehensive#monopoly strategy. By#dumping of#SaaS#apps and#cloud services, they underwrite#TechSupremacist "#socialism"Thanks. Twitter will use this to make your timeline better. UndoUndo
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Have you heard about market socialism? It is e.g. that all employees are members and own one stock each and all have one vote for decisions that the CEO or board does in ordinary firms including firms listed on a stock exchange. https://en.wikipedia.org/wiki/Market_socialism …
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They're interventionist not socialist bud
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Socialism is bad but capitalism has also run rampant, reserve & investment banks play both sides of the market, manipulate & distort the market & share prices with ETF (paper comodities), CFD (trading gambling with the price of essential goods that don't yet exist) fractional rv
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Short selling stocks shares you don't own which adversely distorts the natural market price for goods through demand. Monopolies squeezing out all competition, no more little corner shops garages petrol companies big bus own them. Big tech Google squeezing everything out...
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Sadly this is true. So many people did not pay attion in history class and are not educated on this matter well enough
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