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My observation is: when people talk about "Capitalism" they tend to talk about the more extreme aspect of it. When they talk about "Socialism", I've observed th
by gloob 17y ago
My observation is: when people talk about "Capitalism" they tend to talk about the more extreme aspect of it. When they talk about "Socialism", I've observed they tend to be talking about "our current form of government and onwards."
The thing that libertarians often forget is that libertarianism has never worked in the real world.
(For a certain value of "worked", anyway. I'm mostly just playing off the same argument as applied to communism, though.)
- kiba 17y agoSo you're saying that the free market cannot calculate resource allocation at all? I am somewhat familiar with the argument that central planners cannot possibly perform economic calculation, but not the other way around.
- KirinDave 17y agoTheir ability in a given domain is limited by the average knowledge of that domain in the market. When that knowledge is high, the ability to intelligently allocate resources approaches optimal. When the domain is not well understood, it can be extremely sub-optimal.