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To me what you write are great arguments for tuition free universities, like the ones in Sweden. It makes society much more equitable and egalitarian. This whol

To me what you write are great arguments for tuition free universities, like the ones in Sweden. It makes society much more equitable and egalitarian. This whole artificial scarcity thing is such a lose-lose for everyone in society.

nostrademons 7y ago
To me it highlights one of the big failings of markets, which is that a tool/credential/innovation only has economic value if it's used by some but not all producers in the market. Once it becomes universally adopted it becomes an opportunity for rent-seeking by the producer of that tool/credential/innovation. In some ways this is the great strength of capitalism, because it provides an incentive to adopt innovations that helps overcome the status-quo bias that most humans have. But it also encourages firms to restrict access to their suppliers and tear their competitors down rather than building everybody up.
- thulecitizen 7y ago
  Agreed. Have you read any Guy Standing? “ …today, a tiny minority of people and corporate interests across the world are accumulating vast wealth and power from rental income, not only from housing and land but from a range of other assets, natural and created. ‘Rentiers’ of all kinds are in unparalleled ascendancy and the neo-liberal state is only too keen to oblige their greed. Rentiers derive income from ownership, possession or control of assets that are scarce or artificially made scarce. Most familiar is rental income from land, property, mineral exploitation or financial investments, but other sources have grown too. They include the income lenders gain from debt interest; income from ownership of ‘intellectual property’ (such as patents, copyright, brands and trademarks); capital gains on investments; ‘above normal’ company profits (when a firm has a dominant market position that allows it to charge high prices or dictate terms); income from government subsidies; and income of financial and other intermediaries derived from third-party transactions.” What are some of your go to authors, areas of interest? Or in other words, who are you grateful for, for their influence on you?

nostrademons 7y ago

To me it highlights one of the big failings of markets, which is that a tool/credential/innovation only has economic value if it's used by some but not all producers in the market. Once it becomes universally adopted it becomes an opportunity for rent-seeking by the producer of that tool/credential/innovation. In some ways this is the great strength of capitalism, because it provides an incentive to adopt innovations that helps overcome the status-quo bias that most humans have. But it also encourages firms to restrict access to their suppliers and tear their competitors down rather than building everybody up.

thulecitizen 7y ago
Agreed. Have you read any Guy Standing? “ …today, a tiny minority of people and corporate interests across the world are accumulating vast wealth and power from rental income, not only from housing and land but from a range of other assets, natural and created. ‘Rentiers’ of all kinds are in unparalleled ascendancy and the neo-liberal state is only too keen to oblige their greed. Rentiers derive income from ownership, possession or control of assets that are scarce or artificially made scarce. Most familiar is rental income from land, property, mineral exploitation or financial investments, but other sources have grown too. They include the income lenders gain from debt interest; income from ownership of ‘intellectual property’ (such as patents, copyright, brands and trademarks); capital gains on investments; ‘above normal’ company profits (when a firm has a dominant market position that allows it to charge high prices or dictate terms); income from government subsidies; and income of financial and other intermediaries derived from third-party transactions.” What are some of your go to authors, areas of interest? Or in other words, who are you grateful for, for their influence on you?