Originally posted by Elok
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1960 US Republican Party Platform
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Originally posted by gribbler View PostWhat do you mean by marginal value? Marginal utility?
So if you wanted to posit that yachtmakers provide less utility than equally paid television writers, we could have an interesting discussion. Unless you're positing that an optimally redistributed society would have substantially less savings (I don't think this is a given) then I don't think money managers would be less valuable...12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio Regum
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Originally posted by Elok View PostHey, anybody else remember that time amalgamated human wisdom thought Beanie Babies were highly valuable?12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio Regum
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Originally posted by KrazyHorse View PostFeel free to try to make money shorting things you think are bubbles. When you build a track record of doing that, we can talk more."I hope I get to punch you in the face one day" - MRT144, Imran Siddiqui
'I'm fairly certain that a ban on me punching you in the face is not a "right" worth respecting." - loinburger
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Get creative.12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio Regum
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Originally posted by KrazyHorse View PostNope...the market is Pareto optimal, not utility optimal. I'm not sure if this is a thing, but I wouldn't be surprised if you could show that under optimal tax-and-transfer it was also utility maximal.
So if you wanted to posit that yachtmakers provide less utility than equally paid television writers, we could have an interesting discussion. Unless you're positing that an optimally redistributed society would have substantially less savings (I don't think this is a given) then I don't think money managers would be less valuable...
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Originally posted by gribbler View PostWhat ethical restrictions would you accept on a potential tax system? Would it be acceptable to demand large lump sums from high IQ individuals in order to extract revenue while avoiding the effects of high marginal tax rates?12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio Regum
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Originally posted by MRT144 View PostWell, you see, they were until they werent.
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Wow, KH is giving us a sound lecture on economics. Thanks, KH!Scouse Git (2) La Fayette Adam Smith Solomwi and Loinburger will not be forgotten.
"Remember the night we broke the windows in this old house? This is what I wished for..."
2015 APOLYTON FANTASY FOOTBALL CHAMPION!
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It's just a thing toolbags like you made up in order to justify institutionalized theft.Scouse Git (2) La Fayette Adam Smith Solomwi and Loinburger will not be forgotten.
"Remember the night we broke the windows in this old house? This is what I wished for..."
2015 APOLYTON FANTASY FOOTBALL CHAMPION!
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Originally posted by Elok View PostI guess it depends what you mean by "value." Unless you use "value" to mean "how much the market says something is worth," in which case we have only to ask the market what tautologies are going for these days. Probable answer: "about a tautology's worth."“I give you a new commandment, that you love one another. Just as I have loved you, you also should love one another. By this everyone will know that you are my disciples, if you have love for one another.”
- John 13:34-35 (NRSV)
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