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The false assumption you're making is that an average Chilean can generate better ROI than a bunch of selected, high-tech startups. If that were true, Paul Gra
by kjksf 16y ago
The false assumption you're making is that an average Chilean can generate better ROI than a bunch of selected, high-tech startups.
If that were true, Paul Graham would be giving out handred dollar bills to random people instead of investing in startups that he personally vetted.
- mynameishere 16y agoThe average Chilean would spend his money as he pleased, which would go to businesses that are satisfying a real demand, rather than something a bureaucrat guesses might fulfill a demand.
- kjksf 16y agoSo you're basically arguing that taxes should be completely abolished.
- laut 16y agoHe's saying the market is better than allocating money than government. If the politicians and bureaucrats are so good at investing, why don't they do it privately instead of working for the government? You are assuming that government is better at allocating resources than the market. If the government is better at investing than private capital, why even have a market economy? Why not have a command economy like in the Soviet Union?