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> For another it consumes more than a third of all production This is often a positive. In times of financial panic, which free markets always come around to,
by mullingitover 1y ago
> For another it consumes more than a third of all production
This is often a positive.
In times of financial panic, which free markets always come around to, the government is a spender of last resort that helps to kickstart production and demand when the free market is in absolute shambles, stashing gold in holes in its backyard.
Furthermore, when it's functioning well, it gives the fattest of the industrialists a haircut and returns that money to the populace where the revenue can actually deliver value instead of sitting in a vault somewhere.
- yellowapple 1y ago> Furthermore, when it's functioning well, it gives the fattest of the industrialists a haircut and returns that money to the populace Rarely, and many orders of magnitude less than what we're owed.
- theoreticalmal 1y agoWhat makes you think you’re owed the money of another?
- itsanaccount 1y agoDon't owe it to me, set it on fire (its deflationary lol) but money is a proxy for power and we all are owed the right to be free from tyranny. And if that means making sure no single person or small group of people have too much power (money), then taking their money is what it takes. Maybe we arent even owed, as its a responsibility shared by all.
- jodrellblank 1y agoWhat makes you think the wealthy are owed all of a country's money and resources, simply because they took it by hook and crook?
- BriggyDwiggs42 1y agoI think the reason we ought to be making a society at all is to make the lives of those within it better, and moving resources from some to others within that society is, if done right, able to push things in that direction.
- deleted 1y ago[deleted]
- yellowapple 1y agoAt the very least, I am owed dividends (or equivalent public services) due to my ownership of far less than my equal share of my country's total land value, as is every other person in said situation. The owners of that land did not create it; it existed for billions of years before them and (barring a literal Earth-shattering catastrophe) will exist for billions of years after them. It is therefore a natural resource to which every sapient being on Earth is equally entitled. https://en.wikipedia.org/wiki/Georgism https://en.wikipedia.org/wiki/Georgism https://www.gutenberg.org/ebooks/55308 https://www.gutenberg.org/ebooks/55308 https://en.wikipedia.org/wiki/Lockean_proviso https://en.wikipedia.org/wiki/Lockean_proviso
- IG_Semmelweiss 1y ago>>> For another it consumes more than a third of all production >This is often a positive. >In times of financial panic Do you mean, for example, the credit crisis of 2008 ? That crisis that was actively encouraged by the US govt, that poured the gasoline with govt loan guarantees, insane macroeconomic policy and low interest rates ? Are we saying we want to pay for arsonists, to work as firefighters ?
- mullingitover 1y agoI just finished reading Devil Take the Hindmost: A History of Financial Speculation. It didn't even get to the 2008 GFC, but it covered many other bubbles. The market almost always uses the government to inflate their bubbles by giving stock to officials and other various schemes. The answer isn't to not have a government, it's even tighter regulation (which, since that requires the existing batch of officials to make less money on speculation themselves, is difficult to pull off).