Be prepared. I guess enough to be confident you have no reason to live in fear — Outlander
Is it a bad choice to privilege intelligence in a generalised sense? — apokrisis
But the probable end of human civilisation while my own children are still growing up gives this debate a certain zing. — apokrisis
This is the Singularity argument (of which I am always skeptical — apokrisis
If you get rid of the consideration of capital, then you’re not even talking about capitalism anymore, but (probably) just about a free market, which is not the same thing. A free market where capital distribution is at most a negligible factor is market socialism, which is decidedly not capitalist. — Pfhorrest
Howard Bloom reached a similar conclusion in his 2010 book, The Genius Of The Beast : A Radical Re-Vision of Capitalism. In contrast to pure Capitalism, he refers to an impure mixed economy as the "Western System". :smile:In summary, the thesis is that neoliberal economic theory is objectively false, and that we can do better.. — Banno
Profit describes the financial benefit realized when revenue generated from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity in question.
Bankruptcy laws and procedures are a result of a long historical learning, just as is limited liability.And if the company posts losses should the workers forfeit their pay? — BitconnectCarlos
What is true:
human beings as highly cooperative, reciprocal and intuitively moral creatures — Banno
Singularity in terms of its more modest promise of exponential tech trends — apokrisis
driving the cost of everything to zero — apokrisis
Kurzweil reserves the term "singularity" for a rapid increase in artificial intelligence (as opposed to other technologies), writing for example that "The Singularity will allow us to transcend these limitations of our biological bodies and brains ... There will be no distinction, post-Singularity, between human and machine".[40] He also defines his predicted date of the singularity (2045) in terms of when he expects computer-based intelligences to significantly exceed the sum total of human brainpower, writing that advances in computing before that date "will not represent the Singularity" because they do "not yet correspond to a profound expansion of our intelligence."
https://en.wikipedia.org/wiki/Technological_singularity
Bankruptcy laws and procedures are a result of a long historical learning, just as is limited liability.
In Antiquity there wasn't limited liability, hence if you couldn't pay up to your financiers, they literally owned you. Hence the risk of possible slavery didn't incite people to invest. This of course was a problem in a time when shipping was a hazardous enterprise, so it's no wonder that the commenda, a passive partner, who's risk was limited emerged in 11th century Italy. — ssu
This seems a linchpin to your theory, and it's false at least in numbers high enough to matter. If it were true, the economic or political theory we chose would hardly matter. — Hanover
We should note that “Capitalism” was initially a snarl word used by socialists to disparage a sort of bogeyman. So I think a name change would be appropriate. — NOS4A2
Capital is a kind of property, in any case, and the only kind that really matters for macroeconomic purposes. Nobody cares about the distribution of toothbrushes or toys. It's the distribution of the things needed to live and work -- that's what capital is -- that matters. — Pfhorrest
So the mistake is to try to build a theory around just one side of the dichotomy. The goal would be to design a system which maximises the expression of both - both the cooperation and the competition. — apokrisis
I just wonder if the notion of cooperation is inherently limited to an in-group. — BitconnectCarlos
Competition can get out of hand quickly ... I wouldn't call it a "necessary evil" but it is something to be careful of. — BitconnectCarlos
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