/sci/ - Science & Math

Don't mind me, just being the sexiest economist of all time.
Is there any other economist you actually want to hear speak? I didn't think so.

A classical example of government programs hurting the people they're trying to help.

>>3280642


The moment you try to impose this system upon all of the economy and Collective the means of production (which is what a lot of the "Anarcho"-Socialists and "Libertarian" Socialists want), you end up with de facto State ownership and economic planning.

Also, the idea of "Wage slavery" is just a myth based on the unscientific Labor Theory of Value, and has already been debunked by the Theory of Marginal Utility and the Time Preference Theory of Interest.
>mises.org/daily/1680

Entrepeneurs do an important service to workers, giving then a wage before the output they helped to produce could create an income, taking most of the risks over savings/Capital goods, collecting information and acting upon risks and helping to make the design of the products sold - the REAL source of value, as it gives Marginal Utility to the products. Wage-Relations are a mutually beneficial arrangement.

If the workers do not like this arrangement and want something better, they are free to form their own Worker-Cooperatives/Mutual-Aid Societies, lend their wages at an interest ( to get the "full product of their labor" as Marx would put it) or even attempt to become Entrepeneurs. The only things preventing them from doing so are the State and the fact that most workers simply do no want this, due to their high time preference.

>>3269558
>>3269571

You tried man. Some people don't get it and don't want to

What's going on in this thread?

What's going on in this thread?

Milton Friedman

Awesome or FUCKING AWESOME

Hi /sci/
Is it possible to create a welfare state which is economicaly efficient?