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If only there were some way of pricing the expense of producing something into the price paid by those who desire it.
by MichaelCollins 4y ago
If only there were some way of pricing the expense of producing something into the price paid by those who desire it.
- BayAreaEscapee 4y agoWasn't it the great economist Milton Friedman who said, "From each according to his ability, to each according to his needs"? Or was that someone else who said that? In all seriousness, the way the west (and California in particular) price water defies logic. All this talk about senior and junior water rights doesn't make any sense: it only benefits the entrenched incumbents. A properly setup market would simply price out water uses whose utility was materially less than demand of the produced product.
- dimitrios1 4y agoNot sure if being facetious, but just in case not or in case others are unfamiliar: It's a quotation used by the socialist trio of Cabet-Blanc-Marx, and itself has origins in scripture, just with a materialist reframing, instead of a spiritual one.
- aaaaaaaaaaab 4y agoNo, it was another capitalist thinker. He loved capitalism so much he even wrote a book about capital!
- dpflug 4y agoAs any machine learning dev knows, building an accurate utility function is a bugaboo.
- jonstewart 4y agoNo, about as wrong on the quotation as can be: it’s a socialist slogan, popularized by Karl Marx. However, I’m a big fan of attributing it to Friedman. https://en.m.wikipedia.org/wiki/From_each_according_to_his_ability,_to_each_according_to_his_needs https://en.m.wikipedia.org/wiki/From_each_according_to_his_a...