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I understand your frustration, but you are not going to win any support or convince anyone to read somewhat obscure economic literature by being caustic and att
by roymurdock 11y ago
I understand your frustration, but you are not going to win any support or convince anyone to read somewhat obscure economic literature by being caustic and attacking old ideas simply for being old.
How would you structure society and how would this work in a more efficient manner than the government that we have now? If you a) define the problems and b) give me some tangible examples of how you/these authors think we should fix these problems I'm more than happy to read and think about them.
- vezzy-fnord 11y agoFirstly, most common standards for gauging market failure and inefficiency are based on static, institution-less Paretian general equilibrium and/or social choice models that require interpersonal utility comparisons, among other things. The public choice and Virginia school of political economy have critiqued those. More broadly, the subject of dynamic market process has been explored by Roy Cordato, Gerald P O'Driscoll and Mario Rizzo (The Economics of Time and Ignorance), Israel Kirzner and other later Austrian School authors. I already listed you three authors about banking and finance. More broadly, we already live in the system that you advocate, and it does not work.
- roymurdock 11y ago> More broadly, we already live in the system that you advocate, and it does not work. You still haven't made any specific argument as to why the system of balancing capitalism and socialism does not work, and could not continue to work without some rebalancing of the scales. Briefly, what is the alternative?