5 ms·

The core tenant of getting ahead massively in a capitalist society -- arbitrage. Exploitation of inequality of knowledge and/or opportunity is always a faster t

The core tenant of getting ahead massively in a capitalist society -- arbitrage. Exploitation of inequality of knowledge and/or opportunity is always a faster ticket to success than actually producing anything of value.

ice109 9y ago
>tenant tenet
- cal5k 9y ago
  A true capitalist would make them pay rent!
- soineuh 9y ago
  No, baby, we're talking about collecting rent.
- Godel_unicode 9y ago
  You're going to get downvoted, but not by me. This one drives me crazy.
- justinjlynn 9y ago
  Correct you are. Cheers.
seibelj 9y ago
Ah yes, but the more arbitrage exists, the higher the incentive for another entity to learn and exploit it. The first guy cuts it in half, the next by a quarter, and so on, until normal profits emerge. Being ahead of the curve has a bonus, but it can't last forever in usual circumstances. I think the real core tenet of capitalism is specialization - it is impossible for everyone to know everything. Mix multiple services into one, package it in a way that is ideal for a certain consumer, and the "arbitrage" is really just another word for convenience.
- quadrangle 9y ago
  > the real core tenet of capitalism is specialization That sounds like someone living in a world where "capitalism" is the dominant propaganda meme. Capitalism isn't based on specialization, it's based on private ownership of core resources and infrastructure. All other economic systems have specialization. You're just noticing that specialization is key to human prosperity and wording your point within the baseless assumption that capitalism is synonymous with prosperity or something.
  - seibelj 9y ago
    Yes, private property is the foundation of capitalism. In my opinion, freedom is the true benefit of capitalism, and private property is what allows freedom. In a system where one is not allowed to own property (land, assets, capital, etc.), one is not truly free. And the freedom to discover unmet business needs, arbitrage, etc. is not a problem but a feature, as it drives investment and entrepreneurship. And capitalism is synonymous with prosperity. Capitalism is freedom, and freedom is what propels the world forward.
    - sitkack 9y ago
      Thanks for propagating the HN Gestalt.
      - seibelj 9y ago
        I am a free market capitalist, sorry if that offends you, I'm happy you can't report me to a government official for my views and have me arrested.
        classybull 9y ago
        You seem to conflate your economic systems with your political systems. I recommend some independent study in political economy.
        9y ago
deleted 9y ago
[deleted]
mhb 9y ago
A less cynical (and less condescending) view is that both parties come out ahead due to comparative advantage.

ice109 9y ago

>tenant tenet

cal5k 9y ago
A true capitalist would make them pay rent!
soineuh 9y ago
No, baby, we're talking about collecting rent.
Godel_unicode 9y ago
You're going to get downvoted, but not by me. This one drives me crazy.
justinjlynn 9y ago
Correct you are. Cheers.

seibelj 9y ago

Ah yes, but the more arbitrage exists, the higher the incentive for another entity to learn and exploit it. The first guy cuts it in half, the next by a quarter, and so on, until normal profits emerge. Being ahead of the curve has a bonus, but it can't last forever in usual circumstances. I think the real core tenet of capitalism is specialization - it is impossible for everyone to know everything. Mix multiple services into one, package it in a way that is ideal for a certain consumer, and the "arbitrage" is really just another word for convenience.

quadrangle 9y ago
> the real core tenet of capitalism is specialization That sounds like someone living in a world where "capitalism" is the dominant propaganda meme. Capitalism isn't based on specialization, it's based on private ownership of core resources and infrastructure. All other economic systems have specialization. You're just noticing that specialization is key to human prosperity and wording your point within the baseless assumption that capitalism is synonymous with prosperity or something.
- seibelj 9y ago
  Yes, private property is the foundation of capitalism. In my opinion, freedom is the true benefit of capitalism, and private property is what allows freedom. In a system where one is not allowed to own property (land, assets, capital, etc.), one is not truly free. And the freedom to discover unmet business needs, arbitrage, etc. is not a problem but a feature, as it drives investment and entrepreneurship. And capitalism is synonymous with prosperity. Capitalism is freedom, and freedom is what propels the world forward.
  - sitkack 9y ago
    Thanks for propagating the HN Gestalt.
    - seibelj 9y ago
      I am a free market capitalist, sorry if that offends you, I'm happy you can't report me to a government official for my views and have me arrested.
      - classybull 9y ago
        You seem to conflate your economic systems with your political systems. I recommend some independent study in political economy.
        9y ago

deleted 9y ago

[deleted]

mhb 9y ago

A less cynical (and less condescending) view is that both parties come out ahead due to comparative advantage.