(11-28-2022 11:44 AM)TIGERCITY Wrote: Just so I have your position straight stinky.... As long as the means of production and wealth is in private hands all is fine. Correct?
Not 100% of the time. There are market inefficiencies and other weaknesses which come into play. But most of the time, absolutely.
Quote:And when that wealth is produced in that market economy that wealth can be protected privately through control of that wealth. Correct?
Sure. Why not? The alternative is some form of forced redistribution, which has never worked.
By the way, don't try to use Europe as an example were it has worked. Their systems were more redistributionist in the 1950s and 1960s, which you may be remembering. But that never worked. Europe in the 1970s was a terribly depressing place to be. I know, I spent time there. The Skinheads, among other groups, reacted largely to the depression. So Europe shifted gears. They still retain a comprehensive welfare safety net, but they reduced or eliminated the progressive tax systems designed to foster redistribution. First came the introduction of, and over time the increasing reliance upon, consumption taxes which are inherently regressive. Then in the 1990s and 2000s came the flattening and reducing of marginal income tax rates, accompanied in some cases by reducing or eliminating non-business exclusions and deductions to broaden the base. If you want to follow this progression, go to the OECD Tax Database at
https://www.oecd.org/tax/tax-policy/tax-database/ and follow the changes in the historic tables. Europe is Social Democrat, not Socialism or Bernie's favorite deceptive moniker, Democratic Socialism. Today's USA democrats are more Socialist than Europe.
I am sure that I am considered a conservative on here (although libertarian conservative would be more correct) and I strongly oppose democrat tax and social welfare proposals, but I would be quite happy with adopting a lot of European Social Democracy, at least as long as Bismarck was the health care approach.
For the record, I would also think that we could stand to take a look at European abortion laws before arguing that USA laws in that area are draconian. The average time limit for elective abortion is 12 weeks, with only Holland (24 weeks) and Sweden (18 weeks) substantially longer. Most allow exceptions based on rape, incest, or health of mother or unborn child, but some do not, and six outlaw abortion in all cases and circumstances.
Quote:That regulation of society is done through money signaling among the wealthy. Correct? Do I have your position stated correctly?
No. Regulation of society is largely a function of Adam Smith's invisible hand of free market capitalism, the most powerful regulatory force that exists. Where one's actions negatively impact others, mechanisms should be in place for the victims to be compensated by the perp(s), but these should not be abused. There is nothing wrong with getting rich as long as it is done honestly and ethically.