Message from @Stefan Payne
Discord ID: 531192617363308556
naturaal monopolies are ok, but only few non-natural monopolies make sense, very few
There was a very important thing that Thomas Sowell had mentioned:
Not all markets that are occupied by a single supplier are monopolies.,
The important distinction is whether their presence keeps others out of the market.
It's also not clear what percentage of a market must be cornered, or even what a market is.
If people can wear either sneakers or boots, are boots and sneakers the same market?
Or are there certain boots that cannot easily be substituted? More generally, if one product can be substituted with another, it's not always obvious who constitutes competition for you.
I deeply appreciate Sowell because he is very good at pointing out unintended consequences of public and economic policy.
Sowell is an American treasure. Greatest economist still alive probably, the man is too dangerous for media to still talk about him
doesn't get better than seeing those videos of young Sowell in his prime. Especially ones with Milton smiling at what he had created
I love how he fucked over that Feminist bitch back in 1980
They spoutet the same "wagegap" shit even then.
And Thomas debunked it! Violently and beautifully
milton?
did he study under him?
i know they were both at chicago
but i thought he had a different mentor
eh, not important
@Stefan Payne Yes, but it's also depressing how long this nonsense has been debunked now. We've been refuting this for 40 years or so.
Yes and our best black dude has given an awesome explanation.
and is parroting his statements
thing is: Jordan is more known than Thomas I think.
Eh, it's not hard to refute the wage gap.
I don't think Jordan needed to copy that.
And if he really channels Sowell, I don't mind.
If I can get rich in my retirement years by simply restating Sowell, please don't spoil it for me.
I just got a pocket constitution just to be that annoying prick
I recommend all US citizens get one, just for funzies
sounds like a good idea
@Timcast "Force rich people to reinvest in the economy." .... What exactly do you think wealthy people do with their money otherwise? Stuff it under the couch?
Monetary inflation incentivizes everyone to invest. Desire to increase wealth incentivizes people to invest.
Even if some didn't invest... so what? You could treat their lack of investment as monetary deflation meaning upward pressure on the value of the rest of the monetary supply.
the wealthy tend to just invest in new bussinesses in order to cause small investors to jump onto it after a recognizible name has joined and pressure the company into profitibility untill its breaking point where the big bussiness sells all their investment before it goes under leaving the small investors broke along with the company that just gets bought out by established bussinesses that have age and size in order to maintain their survival against investor pressure . so they dont really stuff it under their couch they just kinda feed off the lower classes by gambling
people that work and save get rich in america all the time.
So big investors are smarter than smaller ones? They can predict market success better? Selling their shares of a company means someone on the other side of that sale thinks it's worth buying.
You might as well blame the buyers for buying the share just as much as the seller trying to sell. It takes two.
And correct... people save and get wealthy regularly... but saving almost 100% of the time is investment. Money almost never sits idle. Even if it did... it'd just put upwards pressure on the value of the remaining money supply.
all ive told you is what happens, its your choice to have a problem with it or not
That's not what happens.
And it implies special knowledge or abilities in the wealthy which isn't explained.