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RE: I was chilling in the sun with a pigeon and a rabbit when I thought about this article

in #anarchy8 years ago

“Yeah I don't know anything about austrian school of economics care to explain?”


He shows how we can derive economic laws from the apparently sterile axiom that “human beings act.” He also discusses where prices come from, and what the fundamental problem with socialism is.Sure, but Tom Woods probably does a better job than me, he explains some of the foundational parts of Austrian economics here. http://tomwoods.com/ep-962-austrian-economics-the-basics-you-secretly-crave/

“Sure taxation isn't a natural part of capitalism per se, nor are regulations which protect worker and consumer rights.”

Government regulations usually have the opposite effect of their stated reason for being implemented. For example, the minimum wage is supposedly implemented to give workers a “livable wage”. The actual effect of it is that some of the workers get a higher wage (the minimum wage) but a lot of them just get fired because they aren’t allowed to sell their labor at a price that the employer was willing to buy it. Let's say you can produce 14 USD of value for your employer before the minimum wage was raised to 15 USD your salary was 11 USD. The employer was making 14-11=3 USD per hour by employing you. After the minimum wage, he would be losing 15-14=1 USD per hour if he kept you as an employee.

What the regulator was trying to do was to force the employer to lose money by paying too much for a worker. If the employer would keep the employee he would lose money and he would go out of business, so of course, he just fires the worker and tries to automate his business.

“Regulations are important, without them, greedy people trying to increase their profitability abuse society.”

Greedy people do not stay away from government jobs such as being a politician/regulator or bureaucrat. It is harder to increase your profitability by abusing society if you are regulated by the market and consumers with choice than if you are regulated by the government. Voters can choose between different corrupt and greedy politicians who usually don’t do what they promise to.

“Though there are things which benefit society whos costs need to be socialized, like education and transportation infrastructure.”

Do you have any proof of that or any arguments? The burden of proof is on you here.

“Yes, corporations use the power of the state to shield themselves, though they also use collusion within the market, price undercutting, purchasing leverage, price leverage etc as means of barriers to entry which occur blatently in a "free-market" without government regulation to halt such activity. They don't just "go out of business eventhough consumers want a lower price." They could simply force their suppliers not to deal with the new business entity in a "free-market".”

Here's an essay addressing this. :) https://www.fff.org/explore-freedom/article/the-misplaced-fear-of-monopoly/

“Are you in favor of getting rid of patents in your "free-market" world?”

I do advocate the abolition of patents, yes. Think of it this way, if you invented the wheel and you patented it. What does that mean? It means that you claim ownership of the idea to use wheels. If someone else copies you or comes up with the same idea on their own what are you going to do about it?