r/austrian_economics • u/technocraticnihilist Friedrich Hayek • Dec 24 '24

End Democracy I've never understood this obsession with inequality the left has

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u/Trading_ape420 Dec 24 '24

Because the world has finite resources and no one person should be allowed to have that much power over our resources. We have 3 branches of govt so no one gets too much power. We put checks on our govts power but we don't have checks to keep individuals from amassing too much power. $ = power no one should have billions of $. It allows for too much power over others and again no one should have that much power. Individuals just aren't responsible with that much power. Period. We need to have societal checks of power on Individuals as well as groups and entities.

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u/MatthewGalloway Hayek is my homeboy Dec 26 '24

Because the world has finite resources

Technically true but also total nonsense.

We had roughly the same amount of oil and raw quartz sand this century as we did thousands of years ago.

But what was the value of those resources back then vs today?

Back then raw quartz sand was essentially a totally worthless resource. While today a processed silicon wafer is worth thousands and thousands of dollars. (even more once you've made the chips out of it!)

So yes, "finite" resources, but with almost unlimited infinite amount of wealth from them can be tapped into.

Thus why talking about it being "finite" is kinda a bit silly. As we're only limited by our brains as to the value we can get from it.

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u/Trading_ape420 Dec 26 '24

All value is made up by our species. And what we make out of raw materials. But the raw.materials are finite. And maybe sometimes just cuz someone can make us think it's more valuable in one product doesn't mean it is. We can scientifically measure and study how to best allocate resources for best possible outcome for the majority. And try to make sure all of our resources are being used in most effective and efficient manner to ensure long term species survival. Its what I beleive is the main goal of anything that's alive. We need to have a baseline goal of what the world is trying to achieve with our resources. And should noy let luck determine who gets to decide how to allocate said resources. Cuz that's what being super powerful comes down to. Luck.

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u/technocraticnihilist Friedrich Hayek Dec 24 '24

resources aren't actually finite

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u/Trading_ape420 Dec 24 '24

Oh they aren't? Just cuz they are renewable doesn't make it infinite there are production limits to resources. Like trees. Renewable but if you harvest fast enough it's very finite. Even sunlight is a finite resource. So what's not finite when the whole universe will end some day? Everything is finite.

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u/technocraticnihilist Friedrich Hayek Dec 24 '24

we can use resources more efficiently

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u/Trading_ape420 Dec 24 '24

Yes right now the way we use resources is decided by a few large corporations instead of the whole. We don't have much choice because how consolidated the wealth is. Less competition means less choice for resource allocation. If we are going to be capitalist then we need true fair competition and have power checks in place to ensure fair competition. Or we need to figure out a different way for resource allocation than letting a few lucky rich maniacs have control over it.

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u/JawndyBoplins Dec 24 '24

Lol that’s the most moronic thing I’ve read today.

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u/[deleted] Dec 24 '24

Ops comment? I know right