Message from @Dr.Wol

Discord ID: 497751652988747776


2018-10-05 12:44:13 UTC  

The value of a thing is whatever people would be willing to exchange it for.

2018-10-05 12:44:14 UTC  

@Dr.Wol It's worse than that. You know why the USSR and China didn't get along? Mao believed agricultural labor was more representative of the working class. Stalin believed that was industrial labor. They didn't get along.

2018-10-05 12:44:25 UTC  

And that's endemic everywhere on the left.

2018-10-05 12:44:31 UTC  

It doesn't matter if the monetary price has a few more zeroes or not.

2018-10-05 12:45:02 UTC  

You can print as much money as you want, but in a decently working market economy, things of equal value will end up with around the same price.

2018-10-05 12:45:18 UTC  

Alright you guys, start fightin'.

2018-10-05 12:45:28 UTC  

We're trying.

2018-10-05 12:45:32 UTC  

Michigan Union types think Californian Actors Guild members are lazy bumfucks who get all the accolades for doing nothing valuable. The Californain Actor Guilds think the Automakers union members are deplorables.

2018-10-05 12:45:33 UTC  

But we haven't had enough beer, yet.

2018-10-05 12:45:46 UTC  

And where are the ice cubes to throw at each other?!

2018-10-05 12:45:48 UTC  

This should help.

2018-10-05 12:45:51 UTC  

What kind of mosh pit is this?!

2018-10-05 12:45:58 UTC  

@Undead Mockingbird Exactly. Money isn't the important signal. It's all in the relative pricing of resources.

2018-10-05 12:46:05 UTC  

Right.

2018-10-05 12:46:09 UTC  

The economy is a distribution system. Not a money system.

2018-10-05 12:46:41 UTC  

people have a different concept of money

Some see it as a commodity, if you have lots of money you can do a lot, you can print it, you can steal etc its just an object with value

Others see it as a compensation of work

2018-10-05 12:46:51 UTC  

If there are 4 coconuts on an island and there are $100 in circulation, each coconut is worth $25. If there's $1000, they each are worth $250.

2018-10-05 12:47:06 UTC  

Is the sand worth nothing

2018-10-05 12:47:13 UTC  

Is labor worth nothing?

2018-10-05 12:47:21 UTC  

the coconut is as much worth as i'm willing to pay for it

2018-10-05 12:47:27 UTC  

Can you get new coconuts?

2018-10-05 12:47:37 UTC  

How much labor do you have to invest to get a cocounut?

2018-10-05 12:47:42 UTC  

That's your cost of labor.

2018-10-05 12:47:54 UTC  

Good luck opening the coconut in such a way that you keep all the milk.

2018-10-05 12:48:00 UTC  

Right.

2018-10-05 12:48:00 UTC  

This gives the rocks worth.

2018-10-05 12:48:05 UTC  

Gotta find a good rock.

2018-10-05 12:48:16 UTC  

And there's the complexities of real world markets coming in.

2018-10-05 12:48:23 UTC  

But it's not like we just pick prices.

2018-10-05 12:48:31 UTC  

That's why it's so hard to centrally plan price signals.

2018-10-05 12:49:04 UTC  

thats because central planning revolves around assuming people will pay for a fixed price

2018-10-05 12:49:24 UTC  

What we just hashed out packs more understanding of economics into the space of two pages than the entire knowledge of Marxist economies.

2018-10-05 12:49:35 UTC  

It also assumes the cost of production is entirely predictable, for every product in the field you control

2018-10-05 12:49:42 UTC  

Yes.

2018-10-05 12:49:51 UTC  

Marxism has no economy

2018-10-05 12:50:22 UTC  

This is why Hayek calls it hubris. There's no conceivable way that a central authority can know the intimate details of every transaction to the point where they aren't throwing darts at the proverbial board

2018-10-05 12:50:29 UTC  

this is why all those commie people / ideas in business always fail

2018-10-05 12:50:32 UTC  

Entirely blind lol

2018-10-05 12:50:35 UTC  

Well, what if there was?

2018-10-05 12:50:42 UTC  

Have you guys seen Death of Stalin. lol