http://www.subtire.com/i.php?n=svsc.jpg What ever happened to no coercion?

Always interesting to see the complete economic ignorance underlying the “capitalism is statism” crowd. Reward is the other side of the coin of risk. Wage laborers get paid even if the product they make does not sell, they can also be fired even if the product does sell. This is a risk faced by…

Any form of wage labour is an implementation of capitalism as defined by the Marxists and Austrians, since whatever a worker’s productivity on the capital of the enterprise, only the capitalist is affected.

Any form of wage labour is an implementation of capitalism as defined by the Marxists and Austrians, since whatever a worker’s productivity on the capital of the enterprise, only the capitalist is affected. That doesn’t describe the current system. It is absurd to say that the worker is not affe…

And yet you and your kind repeatedly defend the effects of state-capitalism that take place in markets in the name of free markets. It’s you who is conveniently shifting in and out of making the distinction.

Reward is the other side of the coin of risk. Wage laborers get paid even if the product they make does not sell, they can also be fired even if the product does sell. So, wage laborers are not free from risk. So, Stranger’s characterization of ‘capitalism’ is wrong.

http://www.threadless.com/print/1375/Nuts_Print They’re practicing socialism.

How so? I think Jon’s argument makes perfect sense.

If a business fails, both the ‘capitalist’ and wage laborers are out of work, so none of them are really insulated from risk. Even if a business doesn’t fail, employees can be fired - risk again. Nothing is risk-free.

Right, but I think that wasn’t the argument. The wage labourers are paid even if the company goes bust, the capitalist loses all of his capital and generates an enormous loss. And they can freely go to work for another company, a capitalist cannot necessarily so easily replace his capital losses. …

Incorrect. The laborers have already been compensated for their labor. If the business fails they keep the money they earned and move onto a new employer. The capitalist, on the other hand, can lose his capital.

Capitalism Misrepresented

Economics Economics Questions

Juan August 5, 2008, 12:23am 59

That may be true but I don’t think it counters my point : being a wage laborer may be less risky than being an entrepreneur, but it’s not risk-free.

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