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It is also a system with some very dangerous externalities that should not be ignored simply because you dislike admitting all philosophies have blemishes. Cap

It is also a system with some very dangerous externalities that should not be ignored simply because you dislike admitting all philosophies have blemishes. Capitalism, alone, requires all participants to be omnscient in regards to present and future circumstances to be correct. It is a deep flaw you likely ignore along with the externalities involved in the process when such omnscient power is denied to most market participants.

logicchains 10y ago
>Capitalism, alone, requires all participants to be omnscient in regards to present and future circumstances to be correct. This is incorrect; even basic economic theories of risk/investment account for uncertainty. A key concept in economics is that people are economically rewarded for investing the value they've created (as opposed to consuming it all), as compensation for taking on the risk involved in investment. Or to put it another way: part of the returns people get from investing is economic compensation for the risk involved in investing (as opposed to spending the money immediately, which entails no risk of losing that money).
- fictioncircle 10y ago
  > This is incorrect; even basic economic theories of risk/investment account for uncertainty. > A key concept in economics is that people are economically rewarded for investing the value they've created (as opposed to consuming it all), as compensation for taking on the risk involved in investment. Or to put it another way: part of the returns people get from investing is economic compensation for the risk involved in investing (as opposed to spending the money immediately, which entails no risk of losing that money). So you view insider trading as an acceptable behavior accounted for in unrestricted capitalism? If not, you misunderstood my meaning.
  - logicchains 10y ago
    Actually I do; it brings information into the market faster, meaning more-accurate prices are realised more quickly.

logicchains 10y ago

>Capitalism, alone, requires all participants to be omnscient in regards to present and future circumstances to be correct. This is incorrect; even basic economic theories of risk/investment account for uncertainty. A key concept in economics is that people are economically rewarded for investing the value they've created (as opposed to consuming it all), as compensation for taking on the risk involved in investment. Or to put it another way: part of the returns people get from investing is economic compensation for the risk involved in investing (as opposed to spending the money immediately, which entails no risk of losing that money).

fictioncircle 10y ago
> This is incorrect; even basic economic theories of risk/investment account for uncertainty. > A key concept in economics is that people are economically rewarded for investing the value they've created (as opposed to consuming it all), as compensation for taking on the risk involved in investment. Or to put it another way: part of the returns people get from investing is economic compensation for the risk involved in investing (as opposed to spending the money immediately, which entails no risk of losing that money). So you view insider trading as an acceptable behavior accounted for in unrestricted capitalism? If not, you misunderstood my meaning.
- logicchains 10y ago
  Actually I do; it brings information into the market faster, meaning more-accurate prices are realised more quickly.