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capital

Posted by Baldur on Wednesday, October 26 2016 at 02:31:19AM
In reply to So do I posted by Dissident on Tuesday, October 25 2016 at 9:26:53PM

"And some of the most important innovations have been opposed every step of the way by government or other institutions. So what?"

"And for what reason? Because they were "too expensive" to produce?"


Mostly because some of the most important innovations present a challenge to the establishment. Consider the case of Ignaz Semmelweis - his reward for saving many lives was to be hounded into the insane asylum by doctors who feared he threatened their prestige. Those doctors weren't much different from the people who hound entrepreneurs for improving the lives of others.

"You're also making the big assumption that workers who are buying these items aren't forced to put themselves into a huge amount of debt in order to afford them"

I can't do much about the poor economic decisions of others. Heck, I can't do much about the poor decisions of others, economic or not. I learned that lesson long ago. At some point I have to abandon them to their fate, lest I share it.

"I want to take away the concept of capital so that everyone is benefiting from the abundance that modern production facilities can create"

You want to get rid of modern production facilities so that everyone can benefit from modern production facilities? Are you even speaking English? Do you not recognize that those modern production facilities are the very definition of capital?




Baldur






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