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> The trillion dollar bailouts are central planning. > In order to criticize a distributed system properly it is necessary to identify those things that are th
by andrepd 6y ago
> The trillion dollar bailouts are central planning.
> In order to criticize a distributed system properly it is necessary to identify those things that are the product of the distributed system, rather than those things that are the product of centralized planning.
What you call "central planning" is merely the emergent behaviour of the "distributed" capitalist system. A certain bearded German economist warned that in such an economy, the state is just another apparatus of the bourgeoisie.
Turning the old cliché on its head, pure capitalism only works in theory, never in practice. In the real world, disparities in money are disparities in power, which ensure things such as bailouts and more fundamentally, banking laws that are effectively a license (for some) to print free money for themselves.
- deleted 6y ago[deleted]
- chordalkeyboard 6y ago> A certain bearded German economist warned that in such an economy, the state is just another apparatus of the bourgeoisie. That bearded economist was on to something. Alas nowadays policy advocates in his tradition seem to want the bourgeoisie state to write and enforce more rules, forgetting that those rules are unlikely to benefit anyone other than an oligarch. > pure capitalism only works in theory, never in practice. Thats dogma and unlikely to be true. > In the real world, disparities in money are disparities in power, which ensure things such as bailouts and more fundamentally, banking laws that are effectively a license (for some) to print free money for themselves. Its more accurate to say that "disparities in power lead to disparities in money." Certainly there are other forms of power, like the ones people use to expropriate money and assets from those who have money and assets but less power.