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If you’re a Democratic Socialist, if you generally agree with the Bernie/AOC approach where they say super-rich people “take” a billion dollars rather than make it...then you believe that profits somehow represent “theft”
You believe their profit is an “extraction”‘ from others
You believe their profit is an “extraction”‘ from others
But that’s making the assumption that the value of items are objective, when it’s clearly not.
If you have 2 separate books; both books being 700 pages. Both books require the same paper, ink, materials, shipping, labour, electricity to create.
By all accounts they’re the same
If you have 2 separate books; both books being 700 pages. Both books require the same paper, ink, materials, shipping, labour, electricity to create.
By all accounts they’re the same
However, Book #1 consisted of 700 pages of the word “JJJJJ” written on it
Book #2 had a Harry Potter novel written on the pages
Again, these books required the SAME resources to make, yet 1 book is totally worthless while the other book fetches $20
Value is clearly subjective
Book #2 had a Harry Potter novel written on the pages
Again, these books required the SAME resources to make, yet 1 book is totally worthless while the other book fetches $20
Value is clearly subjective
If Bernie/AOC are right, if their assumptions are correct, then how can you reconcile that?
If labour was the source of value, if the natural resources were the source of value...then how could 2 books which required the exact same resources command a vastly different price?
If labour was the source of value, if the natural resources were the source of value...then how could 2 books which required the exact same resources command a vastly different price?
It’s because they don’t factor in the role of consumer preferences and entrepreneurship to meet those preferences
The customer decides what’s valuable. The customer is always right
And if the entrepreneur rearranges the ink on the Book to tell a story a customer likes, so be it
The customer decides what’s valuable. The customer is always right
And if the entrepreneur rearranges the ink on the Book to tell a story a customer likes, so be it
The Democratic Socialists, of which the NDP is a huge proponent of, all believe in this
The NDP Leader himself said in a Breakfast Club interview that he shares their way of thinking. That he’s a progressive AOC-type guy.
And it’s unbelievable that our society is ignoring it
The NDP Leader himself said in a Breakfast Club interview that he shares their way of thinking. That he’s a progressive AOC-type guy.
And it’s unbelievable that our society is ignoring it
There is no such thing as surplus value. Jagmeet Singh and Bernie Sanders need to get a clue.
You can’t steal surplus value on subjective consumer goods.
“Profits” are actually newly-created wealth. It is wealth that previously did not exist.
It isn’t extracted from anyone
You can’t steal surplus value on subjective consumer goods.
“Profits” are actually newly-created wealth. It is wealth that previously did not exist.
It isn’t extracted from anyone
Profits are a good thing. The more profits you have in an economy, the richer and more prosperous the society is.
The consumer also earns an unseen “profit”...where he pays $20 for a book he was willing to pay $25 for.
That $5 savings is the customer’s share of the profit.
The consumer also earns an unseen “profit”...where he pays $20 for a book he was willing to pay $25 for.
That $5 savings is the customer’s share of the profit.
But these Democratic Socialists don’t understand this. They have a backwards view of how an economy works.
There isn’t some finite level of value out there. It’s not like we have a “fixed-pie”
It’s not like someone must get rich at the expense of others. Wealth GROWS over time
There isn’t some finite level of value out there. It’s not like we have a “fixed-pie”
It’s not like someone must get rich at the expense of others. Wealth GROWS over time
If you witness the incredible growth rates over the last 150 years, can anyone honestly conclude that wealth levels are finite?
Canada went from a society that had child labour to a country with advanced machinery and a high standard of living, AND with a larger population.
Canada went from a society that had child labour to a country with advanced machinery and a high standard of living, AND with a larger population.
If wealth levels were finite, then how did the world population increase from 4 billion to 7 billion since 1980?
Think of how much of an increase that is.
Why did global living standards skyrocket since 1980?
If we have more people than in 1980, shouldn’t we be getting poorer?
Think of how much of an increase that is.
Why did global living standards skyrocket since 1980?
If we have more people than in 1980, shouldn’t we be getting poorer?
In countries like China, you see a huge increase in the number of Chinese billionaires, yet the middle-class is growing fast as well
Median wages went up more than 10-FOLD in recent years, and the average Chinese man is FAR better off than he was in 1980
There isn’t a fixed pie
Median wages went up more than 10-FOLD in recent years, and the average Chinese man is FAR better off than he was in 1980
There isn’t a fixed pie
These ridiculous beliefs lead to some truly absurd conclusions
Bernie Sanders said he wants to create 20 million new energy jobs in the US, as part of his Green New Deal, as opposed to the current 2 million US energy workers currently in the field. That’s 10x more workers!
Bernie Sanders said he wants to create 20 million new energy jobs in the US, as part of his Green New Deal, as opposed to the current 2 million US energy workers currently in the field. That’s 10x more workers!
But if you’re a logical man, you’ll conclude that 20 million new energy workers ISN’T a good thing.
You want LESS workers out there in energy, because that would bring the energy prices down.
10x the jobs means 10x the price, so yes....more “jobs” are created but prices go up.
You want LESS workers out there in energy, because that would bring the energy prices down.
10x the jobs means 10x the price, so yes....more “jobs” are created but prices go up.
But because Bernie thinks value comes from labour, he thinks hiring people to do government jobs will automatically create value.
He would rather have 100 people repair a bridge rather than 20 trained guys. Because in Bernie’s mind, that means 80 more jobs are created.
Unreal
He would rather have 100 people repair a bridge rather than 20 trained guys. Because in Bernie’s mind, that means 80 more jobs are created.
Unreal
The man actually bragged on his campaign website that his energy plan would hire SIGNIFICANTLY more energy workers than are currently employed in the US
As if a society starved of energy wants their power bills to increase 10-fold. Who’s gonna pay those extra energy workers?
As if a society starved of energy wants their power bills to increase 10-fold. Who’s gonna pay those extra energy workers?
Bernie doesn’t understand that economics is about the allocation of SCARCE resources, and human labour is scarce, so we need to economize
We need to save our manpower so we can allocate them to other things that a society needs. It’s not more “jobs” we want, it’s more production
We need to save our manpower so we can allocate them to other things that a society needs. It’s not more “jobs” we want, it’s more production
If a town hires 100 guys to build a bridge, is it better to hire 100 extra guys? Is that what we want? More jobs to do the same task?
Why would your country be better off if they need 20 million workers to do the same job that 2 million workers previously accomplished?
Why would your country be better off if they need 20 million workers to do the same job that 2 million workers previously accomplished?
In fact, the profit-driven energy companies in existence today will give you CHEAPER energy than the Government-controlled energy enterprises that Bernie would create
In their obsession with “creating jobs” and reducing profits, they would make prices higher for the customer
In their obsession with “creating jobs” and reducing profits, they would make prices higher for the customer
This type of economic illiteracy shouldn’t exist in any thinking adult, let alone a candidate for President of the United States
The fact that we have NDP folks here in Canada who have the same beliefs is sickening, especially considering Canada has a high living standard
The fact that we have NDP folks here in Canada who have the same beliefs is sickening, especially considering Canada has a high living standard
