Socialism Is Always Doomed to Fail

[Jason Harvestdancer]

OK, I get it. I'm not going to defend communism, but don't we generally see more waste, or overproduction in a capitalist society? There is a lot of things produced that no one knew they needed until they saw the commercial. It needs continual growth, no.

BTW, I agree with that it is about finding the right balance, and even that's a moving target.

The overproduction is far worse in command economies. Russia produced great piles of goods that were just left outside because some other factory wasn't doing their part of the job and the result wasn't a useable product.

Or look at the ghost cities of China.

And just because you didn't know you needed it doesn't mean it's of no value. Sometimes it's simply that you didn't realize there was a better answer.

or look at the ghost cities of USA.
most companies fail. most product projects fail. enormous amounts of human workhours are wasted in capitalistic economies.

There are company towns in the US, and when that company fails that town is hurt by it. That much is true.

In a market economy, when an executive makes a bad decision and hurts the company, those hurt most by it are people in that company. In a command economy, when a bureaucrat makes a bad decision it has much broader and more far-reaching effects.

The types of economic distortions that lead to a bust can only be made by someone with that much reach. If you want to understand a bust, look at the boom that came before it and see what economic signals where being distorted to cause mailinvestments in the first place.

 

[Juma]

or look at the ghost cities of USA.
most companies fail. most product projects fail. enormous amounts of human workhours are wasted in capitalistic economies.

There are company towns in the US, and when that company fails that town is hurt by it. That much is true.

In a market economy, when an executive makes a bad decision and hurts the company, those hurt most by it are people in that company. In a command economy, when a bureaucrat makes a bad decision it has much broader and more far-reaching effects.
.

Bad decision? That your business fails does not mean that you necessarily have made bad decisions. On the contrary: the one single thing that is common to succefull companies is luck.

Read the book of Kaneman i think it is called ”thinking fast, thinking slow”

In a command economy you can get rid of the enormous cost of these ”failures”.

 

[Harry Bosch]

or look at the ghost cities of USA.
most companies fail. most product projects fail. enormous amounts of human workhours are wasted in capitalistic economies.

There are company towns in the US, and when that company fails that town is hurt by it. That much is true.

In a market economy, when an executive makes a bad decision and hurts the company, those hurt most by it are people in that company. In a command economy, when a bureaucrat makes a bad decision it has much broader and more far-reaching effects.
.

Bad decision? That your business fails does not mean that you necessarily have made bad decisions. On the contrary: the one single thing that is common to succefull companies is luck.

Read the book of Kaneman i think it is called ”thinking fast, thinking slow”

In a command economy you can get rid of the enormous cost of these ”failures”.

Interesting! Do you have an example that would demonstrate how well a command economy works?

 

[dismal]

Bad decision? That your business fails does not mean that you necessarily have made bad decisions. On the contrary: the one single thing that is common to succefull companies is luck.

Read the book of Kaneman i think it is called ”thinking fast, thinking slow”

In a command economy you can get rid of the enormous cost of these ”failures”.

Interesting! Do you have an example that would demonstrate how well a command economy works?

Certainly there's Venezuela. They keep commanding more and more and the results speak for themselves.

And China did get GDP per capita up to a stellar $250 per year with central planning and the threat of indoctrination camps. It's only 40x that now with some liberalization.

The worst to me is Cuba. Whenever their economy tanks, they always institute a slew of market reforms. They know market reforms grow the economy, but they make the people suffer anyway.