The rank hypocrisy of capitalist propaganda

Discussion in 'Economics & Trade' started by Kode, Sep 26, 2017.

  1. james M

    james M Banned

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    Translation: I can’t answer so I’ll run away.
     
  2. Reiver

    Reiver Well-Known Member

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    Again, I have explained it. You're simply struggling with Smith's rejection of hyper-rationality. There's no notion of 'one man, one island' selfish maximisation behaviour. The democratic firm will craft decisions according to social motivation. Harming others (and that is what a zero sum game necessarily is) will provoke revulsion.

    Love how you're trying to argue against Smith mind you!
     
  3. Longshot

    Longshot Well-Known Member

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    How would an employer/employee model have more of a 'one man, one island' selfish maximization behavior than in a WSDE?
     
  4. Reiver

    Reiver Well-Known Member

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    Corporations more closely follow hyper-rationality (which is appreciated in basic economics through concepts such as moral hazard). They're not constrained, towards long term sense, through motivation of the socially minded.
     
  5. Longshot

    Longshot Well-Known Member

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    A worker in a corporation is less inclined to rent-seek than a worker in a WSDE? Why?
     
  6. Reiver

    Reiver Well-Known Member

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    You're asking for repetition. Within a community, motivations are socially minded. Rather than boring me with your repetitive questions, shouldn't you read the Moral Sentiments?
     
  7. Longshot

    Longshot Well-Known Member

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    You haven't answered the question of why a worker in a corporation is less inclined to rent-seek than a worker in a WSDE.
     
  8. Reiver

    Reiver Well-Known Member

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    I have, you just haven't understood Smith. A corporation is more likely to act with hyper-rationality (and take advantage of asymmetric information). Decision-making in a worker owned enterprise, however, necessarily takes into account our social nature. Cheating, for example, is seen as a source of disutility. Exploiting others is deemed to be repugnant. This is basic economic psychology mind you, so its a shame you need your hand held. Mises.org failed to mention it?
     
  9. Longshot

    Longshot Well-Known Member

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    Decision-making in a corporation necessarily takes into account our social nature.
     
  10. Reiver

    Reiver Well-Known Member

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    Chortle, chortle! Did you think that after Deepwater Horizon?

    Corporations come the closest to hyper-rationality.
     
  11. Longshot

    Longshot Well-Known Member

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    So in a world with only WSDEs there would be no accidents?
     
  12. Reiver

    Reiver Well-Known Member

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    You thought it was just an accident? Wowsers. You must have missed all of the court cases. Long holiday?
     
  13. Longshot

    Longshot Well-Known Member

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    And something like that could never be done by a WSDE? How do you this?
     
  14. Reiver

    Reiver Well-Known Member

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    Cutting corners and threatening the safety of the workers? Very unlikely, obviously.
     
  15. Longshot

    Longshot Well-Known Member

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    Sounds like WSDEs are much better, in which case corporations will die out and WSDEs will take over.
     
  16. Reiver

    Reiver Well-Known Member

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    Naive, again. Rent seeking ensures higher profits and therefore guarantees market failure continues.
     
  17. Longshot

    Longshot Well-Known Member

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    WSDEs will never rent seek? How do you know?
     
  18. Reiver

    Reiver Well-Known Member

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    Already said. Rent seeking is typically part of zero sum game behaviour. Would a worker enterprise exploit workers or consumers? The first makes no logical sense; the latter is unlikely because of socially motivated decision-making.
     
  19. Longshot

    Longshot Well-Known Member

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    You're asking my why one firm might exploit people outside their firm. Do you understand human nature? At all?
     
  20. Reiver

    Reiver Well-Known Member

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    What do you think Smith was talking about? He's referring to our human nature. But hey, have a go at Smith if you want. That would at least be amusing.

    Of course we can refer to more modern analysis, such as the criminals failing to follow the prisoner's dilemma logic. Behavioural economics makes fake libertarian "its human nature" comments look decidedly ignorant.
     
  21. Longshot

    Longshot Well-Known Member

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    So you’re still sticking with your contention that no WSDE would ever exploit anyone outside of that firm. You have no understanding of human nature.
     
  22. Reiver

    Reiver Well-Known Member

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    Look at the difference in our approach. I've referred to one of the great political economists (who happens to agree with me). I've also referred to behavioural economics, coupling it with well known experimental game theory. And your response? Any economics at all? Nope. Just the obligatory low brow 'its human nature it is'
     
  23. Longshot

    Longshot Well-Known Member

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    So you have no evidence that a WSDE would never exploit anyone outside their firm. You simply assert it. Okay.
     
  24. Reiver

    Reiver Well-Known Member

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    Chortle, chortle! Be serious in your response:

    I've referred to one of the great political economists (who happens to agree with me). I've also referred to behavioural economics, coupling it with well known experimental game theory. And your response? Any economics at all? Nope.
     
  25. Longshot

    Longshot Well-Known Member

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    Adam Smith said that a WSDE would never exploit anyone outside their firm? Can you provide the quotation where he says this?
     

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