The myth of the rational voter

By the way, i can take water, mud and straw to make bricks. That is using resources to make resources. Unless and until i attempt to sell them, it ain't capitalism. If i attempt to sell them, and don't, it's failed capitalism. If i attempt to sell them, and do, it's called capitalism. If it suddenly occurs to me that i've got lots and lots of water, mud and straw, and can make bricks much faster than i spend the money i take in, i may very well be motivated by my greed to step up production.

But if i just make the bricks, and never contemplate selling them, then it is simply . . .

. . . brick-making.

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Setanta wrote:

"You don't provide any examples of this however"

I need to refer you to the stock market?

You are simply taking a portion of my assertion out of context and failing in your critique. The only way you are going to be potentially successful is if you quote me in full and argue against it in full as such "The simplistic essence of capitalism (to use resources to make resources) does not necessarily in and of itself infer greed."

infer
4. to hint; imply; suggest

In the context of greed it's obvious that using resources to make resources is the simplistic essence and profit only an expectation.

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Chumly wrote:

And again I note questionable aspects in your modern definition to wit: that "development" need not be "proportionate to the accumulation and reinvestment of profits gained in a free market" due to many variables. Not the least of which is the fact that there is no real-world equivalent to a true free market, it is a textbook idealization, and not the least of which is irrationality ("inefficient" for those that like the Efficient Market Hypothesis) driving expectations which can push circumstances higher or lower than what "development" would appear to dictate in terms of being "proportionate to the accumulation and reinvestment of profits gained in a free market".

Setanta wrote:

None of that serves to found your so-far-unfounded claim that capitalism is, in essence, using resources to make resources. Frankly, i consider your claim to be less founded in reality than anything that Eorl or i have written.

Refute my post directly and to the point (if you can). Your "working definitions" for capitalism is questionable and again you are simply taking a portion of my assertion out of context and failing in your critique.

And I'll await Eorl's definition of greed as he intended it in the context of his post, as it was his assertion not yours that got the ball rolling, and it was my responding to his post, and my understanding of how he intended the word.

See here

Eorl wrote:

Human greed is the reason capitalism succeeds.

Chumly wrote:

The simplistic essence of capitalism (to use resources to make resources) does not necessarily in and of itself infer greed.

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Within the context of greed and capitalism I think the germane question is what is the source of the (presumed) greed. Is it the expectation of profit, or is it access/manipulation of resources? My money (pun) is on more on the access/manipulation of resources and less on the expectation of profit per se.

Although set has asked, I would have thought it's pretty obvious that money is symbolic/representative of resources including bricks.

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Chumly wrote:

Within the context of greed and capitalism I think the germane question is what is the source of the (presumed) greed. Is it the expectation of profit, or is it access/manipulation of resources? My money (pun) is on more on the access/manipulation of resources and less on the expectation of profit per se.

Although set has asked, I would have thought it's pretty obvious that money is symbolic/representative of resources including bricks.

Three observations--one, certainly profit motive is behind capitalism, and it is a matter of quibbling over terms to say when the profit motive becomes greed.

Two, i hope for your sake that you never go into a fiercely competitive business on your own, believing that your fellow business men are only interested in access to and the manipulation of resources. If there were any minority among capitalists (who aren't necessarily even those who use resources), it would be those who aren't responding to the profit motive.

Three, all money can be described as a resource, by no means are all resources, or even a significant fraction of all resources, money. That is why i have said your definition were so vague and broad as to be virtually meaningless.

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Chumly wrote:

infer
4. to hint; imply; suggest

A capitalist can hint, imply or suggest something. Capitalism cannot, as it does not read, write or speak. You want the verb imply, in the definition of conclude from evidence or premises.

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It might be worth pointing out that at no point did I suggest that greed is a component of capitalism, no matter how you define either of those words.

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Hey Eorl don't spoil the fun! I'm whipping up a nice comeback for set.

But in any case if "Human greed is the reason capitalism succeeds" how could greed not be a "component of capitalism" (at least of successful capitalism by your delineation)? As it would appear by your logic that without Human greed capitalism would not succeed (i.e. fail).

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Setanta wrote:

Chumly wrote:
infer
4. to hint; imply; suggest

A capitalist can hint, imply or suggest something. Capitalism cannot, as it does not read, write or speak. You want the verb imply, in the definition of conclude from evidence or premises.

Nope I do not "want the verb imply". Yup I can use the word infer as per the below with grammatical correctness. Have a look see.

TheFreeDictionary wrote:

To lead to as a consequence or conclusion: "Socrates argued that a statue inferred the existence of a sculptor" Academy.

(It's understood that I argue that)

Chumly wrote:

The simplistic essence of capitalism (to use resources to make resources) does not necessarily in and of itself infer greed.

More to come in response to your prior posts set, I'm just getting up to speed with a newer voice recognition app.

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The myth of the rational voter

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