Part 2 - Capitalist Myths - Response

Part 2 of my responses to Mr1001nights videos on "Refuting Capitalist Myths." This video covers the idea of creativity and the profit motive. See videos of Mr1001nights here: http://www.youtube.com/watch?v=1o1TIEM--BI

Category:

Education

Tags:

• capitalism
• libertarian
• anarchy
• profit
• motive
• ludwig
• von
• mises
• creativity
• mr1001nights
• wage
• slavery
• free
• market
• human
• action
• thought

[4lifejackhammer]

if yields does not exceed material costs, then the time put in is worthless. In truth, yield equals costs, because part of the costs is the time put into producing the product or service.

[Austrolibertarian]

@4lifejackhammer That's a loss. You're describing something coming out in a wash.

[EsotericThrone]

He definitely isn't dumb, but he *is* an emotional ideologue. Hence he can't accept, like the best of the leftists do, that while they're free to organize however they want, they can't forcefully prevent others from organizing differently. This makes him an authoritarian.

[LibertyIsNotGiven]

Mr1001nights is a broken record.

[priapus512]

@mr1001nights Why are people who manage workplaces not workers? Managing is a hard job, bosses often work harder than any of their employees. Secondly if you do assume this false dichotomy between labor and management, what possible mechanism does "capitalist ideology" use to "violently prevent" workers from forming cooperatives if they want to? I am not aware of any true free marketer who says we should coerce people into not forming cooperatives, a co-op just another business model.

[CommSense]

@mr1001nights

there still arent prices for labor factors. This is discussed in great detail in Hoff's economic calculation in a socialist society

[Austrolibertarian]

@mr1001nights I've read them before. I have engaged people at length over those types of confusions.

[EsotericThrone]

@mr1001nights You just took a big credibility hit with me. : (

[MisesianThinker]

Just think why would anyone stay in business if they could sell all of there stuff and put the money in the bank and earn more from the interest accrued. On the other side people will see that you are making money and get in there and raise production.

[MisesianThinker]

Short term profits and losses come from uncertainty: you see an opportunity that others don't see and you get to it first, this type is self defeating as others will emulate profitable activity

Long term profits come from time preference (the payment you get for paying for the factors now and receiving a good at some later time) and profits will tend toward this rate. They don't really ever reach it though because of constant changes in the data.

[mr1001nights]

@EsotericThrone You say: "I consider any use of force to be a negation of the market"

Since the free choice of worker self-management negates the capitalist market itself, this market requires force in order to suppress it.

Talk of "creative" capitalists sounds like talk of "creative" Kings or slave owners. It amounts to apologetic for power, privilege and exploitation.

[mr1001nights]

@EsotericThrone

Since you support an economic system based on hierarchy (Boss--wage laborer capitalist arrangement) you cannot call yourself an anarchist.

[EsotericThrone]

@mr1001nights Far and away the most important feature of our interaction is that I have told you again and again that I have no problem with you organizing however you like, and your reply seems to be a claim to authority over the rest of us. That somehow, somewhere, you've found the authority to override the consent and will of people with different opinions than you have. I cannot consider you an anarchist, and honestly, see you as regrettably conservative. You can't let go of forcing our hand