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gtaogle's profile
System of a Dad
System of a Dad
System of a Dad
@gtaogle

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System of a Dad

@gtaogle

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Baltimore, MD
Joined August 2014

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    1.  🐴The ✝️Magician 🚀‏ @GolfNorman Oct 11

      The entire purpose of "consent based ethics" was the idea that a valid transaction in a free market system can only occur with the "well informed consent" of both parties.

      1 reply 1 retweet 11 likes
      Show this thread
    2.  🐴The ✝️Magician 🚀‏ @GolfNorman Oct 11

      What defines this "well informed consent": 1. no coercion or leveraging on the part of either party. 2. information is not withheld deliberately by party members, opportunity of each party to explore options to reach a decision is intact. 3. no differential ability exploited

      1 reply 0 retweets 4 likes
      Show this thread
    3.  🐴The ✝️Magician 🚀‏ @GolfNorman Oct 11

      In the absence of this "well informed consent" traditionally, any contract could be declared null and void. This is the basis for business ethics. It is NOT intended for morality between individuals but between customers and sellers, business partners, etc.

      2 replies 0 retweets 5 likes
      Show this thread
      System of a Dad‏ @gtaogle Oct 11
      Replying to @GolfNorman

      And it's not a* true *free market since it has to be enforced (traditionally by a market court.) - not something a person had much choice about.

      8:29 AM - 11 Oct 2018
      • 1 Like
      • 🐴The✝️Magician🚀
      2 replies 0 retweets 1 like
        1. New conversation
        2.  🐴The ✝️Magician 🚀‏ @GolfNorman Oct 11
          Replying to @gtaogle

          A free market can only exist on the preconditions that certain lawful rules be upheld to avoid the exploitation of others if not outright swindling and theft. Otherwise it isn't really a free market but total anarchy.

          1 reply 0 retweets 0 likes
        3. System of a Dad‏ @gtaogle Oct 11
          Replying to @GolfNorman

          It's not free because it isn't free of coercion. The third party judges coerce people to follow the rules (this has a cost.) Epstein made the point that this one of the only coercions whose cost is outweighed by the negative-sum transactions it eliminates.

          1 reply 0 retweets 1 like
        4. System of a Dad‏ @gtaogle Oct 11
          Replying to @gtaogle @GolfNorman

          (The way to think of this is that thievery and fraud generally do not add value to the whole network - they just transfer existing value - at the cost of the coercion used by the fraudsters/robbers)

          1 reply 0 retweets 1 like
        5.  🐴The ✝️Magician 🚀‏ @GolfNorman Oct 11
          Replying to @gtaogle

          Well it's like having a Navy. Piracy is a zero-sum operation that is entropic: produces higher expenses for the total market than the value transferred to the pirates namely through sinking ships, losing some of the goods when robbing.

          2 replies 0 retweets 0 likes
        6.  🐴The ✝️Magician 🚀‏ @GolfNorman Oct 11
          Replying to @GolfNorman @gtaogle

          The thing is that the Rule Enforcement might be coercive, but there is no coercion in accepting or rejecting a transaction between the two parties. You can't really say someone is being coerced to follow rules if someone with a gun is there...

          1 reply 0 retweets 0 likes
        7.  🐴The ✝️Magician 🚀‏ @GolfNorman Oct 11
          Replying to @GolfNorman @gtaogle

          ... specifically to stop them from using a gun to get the 2nd party to sell them goods at a lower price or give them to them for free.

          1 reply 0 retweets 0 likes
        8.  🐴The ✝️Magician 🚀‏ @GolfNorman Oct 11
          Replying to @GolfNorman @gtaogle

          The enforcer is only engaging in coercion if they implement price controls or sales restrictions but in that case you no longer have a free market but a planned economy.

          1 reply 0 retweets 0 likes
        9. System of a Dad‏ @gtaogle Oct 11
          Replying to @GolfNorman

          No, Epstein explicitly says that rule enforcement by the court is coercion, but justifies in saying that it makes the market work better. Any enforcement mechanism is coercion, possibly even the case where the parties are required to enforce for themselves.

          2 replies 0 retweets 0 likes
        10. 4 more replies
        1. New conversation
        2. System of a Dad‏ @gtaogle Oct 11
          Replying to @gtaogle @GolfNorman

          which means that consent ethics have a powerful third party baked in. Huh, who would be in favor of this

          1 reply 0 retweets 1 like
        3.  🐴The ✝️Magician 🚀‏ @GolfNorman Oct 11
          Replying to @gtaogle

          the adjudicators of course.

          0 replies 0 retweets 0 likes
        4. End of conversation

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