@iae101rbompane @SRUmbre @artruckus And if you can’t tell, I’m from a small town and work in a niche industry where your word and reputation mean everything. I’m happy here. I don’t feel the need to leave. And if that means I miss out on some classes, ehh, so be it.

@iae101rbompane @SRUmbre @artruckus That. I wish you the best of luck. sincerely, have a nice day. The difference is instead of being Vegan I ask that when I say I’m sick, it’s taken at face value. If we aren’t aligned, that doesn’t mean someone’s wrong, just that we aren’t a match for each other.

someone made hard tooling for this

@level941 Imagine shorting the Weimar stock market.

@HeroHillbilly And convincing a system built around profits by all costs to leave those tokens for real world manufacturing is proving tricky. I don't have a great solution.

@HeroHillbilly the unions monopoly status on labor. As you noted, we are also seeing a financialism strain of capitalism emerge that seeks to make money through things like digital internet tokens and seems to be divorced from the positive incentive structures of the past.

@HeroHillbilly suppressing wages on those same workers. So, capitalism seeks to both increase output while suppressing wages. This is arguably one of it's biggest flaws and has commonly been solved with collective bargaining but that becomes less effective as globalism seeks to break

@HeroHillbilly really interesting partnership where the profit seeking motive really cleanly dove tails into purchasing and building manufacturing plants and optimizing the output from each worker. It's hard to imagine a better alignment. The issue is profits can also be generated by

@HeroHillbilly times but always with a severe authoritarian flare and never with highly coordinated manufacturing. It could theoretically be done although don't feel that the incentive structures align to create huge chances of success. Capitalism on the other hand creates a

@HeroHillbilly We have seen industrialization happen in extreme circumstances with minimal capital investment. WW2 involved some of the most impressive mobilization of manufacturing resources ever seen but it's hard to tell how it would have worked long term. Communism has been tried multiple

@HeroHillbilly history would be considered capitalist and the impact of the system would be diminished to near zero. Somewhere in there is the the difficulty of explaining how capitalism interacted with industrialization and if that partnership was mandatory.

@HeroHillbilly That means that there is more stuff to go around for everyone. I would say that is generally what people mean when they say capitalism is good. In the conversation above the other person was trying to define all free trade as capitalism which means basically all systems through

@HeroHillbilly it as industrialization vs capital markets. It might be an unnecessary nuance but my perspective is that each of these words needs to be considered in a vacuum then considered together in context. So, industrialization is increasing the per worker output.

Yeah, the two I was interacting with before blocked me as soon as I brought a screenshot to the conversation. Kinda sad. I don't know that I would define it as financial capitalism and industrial capitalism as much as I would describe @HeroHillbilly https://t.co/Q1jGMImrp6

@rednecknerd123 @RockChartrand Very nice! People dont realize that the US went from production capitalism that is good for everyone to Financial capitalism which the majority of wealth goes to the elite and wealthy! As well the capitalism they speak of is unsustainable due to finite resources!

For efficient market theory to be true, both of us would need to be highly educated consumers that also don't know the market rate, choosing instead our own transaction value. @BowTiedEffer thoughts?

The seller is trying to create a price anchor by implying that it should cost X. The problem is that I can get it on ebay for X all day long, so the value delta is minimal on my side.

The entire price discovery mechanism is essentially everyone copying each others homework and "changing it just a little bit". So, when I'm at your garage sale, I really don't care that this used tool is $200 bucks new. What are you willing to sell it for?

Problem is that isn't how it works at all. Everyone looks at the current transaction rate and creates a delta that they define as the "deal quality." Oh, this is a 100 dollar object selling for 70 bucks. That means I have a 30 dollar delta and its a "good deal"

Got to watch an economic theory fail this weekend. Efficient market theory basically says that everyone has their buy price and everyone has their sell price. Different actors move through the market and transact. Eventually the price stabilizes and we have a "market rate"