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I think you should be more charitable to your friend. “No one should own 6 yachts” is a defensible moral principle. Not everyone accepts it, and there is good e
by sjy 6y ago
I think you should be more charitable to your friend. “No one should own 6 yachts” is a defensible moral principle. Not everyone accepts it, and there is good evidence that certain ways of preventing people from owning 6 yachts result in worse outcomes for everyone. But “hedge funds are beneficial and necessary” is not a scientific fact; most heterodox economists would reject it.
- anm89 6y agoAnd thinking people should be allowed to own 6 yachts is a defensible moral principle. My discussion wasn't about moral defensible principles. Everyone thinks their principles are morally defensible, that's not unique to you. The number of people in hedge funds who own 6 yachts could probably be counted on one hand. The whole point was that she had no idea what she was talking about and admitted as much. Nothing in economics is a scientific fact. Supply and demand isn't a scientific fact. Gravity isnt a scientific fact. So again, no idea what you are on about. This is why I make an effort to speak up on economics literacy stuff. It brings out the least informed people but with the strongest opinions.