https://www.facebook.com/#!/notes/brad-lee-greasy-nichols/message-to-capitalists-youre-clearly-wrong/10100282073748985 this was posted on a forum debate page I was invited to on FB. He has asked for thoughts on it before he writes it up. Not being familiar with this subject I thought I’d see if anyone here has any thoughts on this.
Thanks in advance to anyone with more ability than I that is willing to explain
From what I saw, stupid argument - just write “iterated prisoner’s dilemma.”
And even IF capitalism suffered from this problem, there’s no evidence presented that government can or would solve the problem.
LOL, what?
I’m with Wheylous: all this guy seems to do is describe certain theoretical tools (this is prisoner’s dilemma, this is pareto efficiency) and then… capitalism fails? I’d provide a counterargument, but there really is no argument in the first place. Just “here’s one problem man must contend with, so capitalism is bad.”
And a hint: if someone says economists think the free market is “almost magical,” that probably means they don’t understand the arguments for a market system. They’ve failed the ideological Turing test.