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PhilosophyGround >> Origins of Capitalism


12/21/04 9:33 PM
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Schadenfroh
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Edited: 23-Dec-04 01:50 PM
Member Since: 01/01/2001
Posts: 4281
Please do not believe that “free” markets are some kind of god Perfect competition is the best market structure from an efficiency standpoint. Price equals margin cost giving it perfect allocative efficiency and firms operate at their minimum atc giving them zero economic profits in the long term. Although in the real world I don’t think there are any perfectly competitive markets i but there may be markets that approach this theoretical model. ATC's minimum, etc other efficiencies) with the governments theoretical ability to attempt to regulate or force non competitive firms to act more like competitive structures and if that fails capture some of a noncompetitive firm profit above p=mc. However it is debatable whether the government can actually do this efficiently and without causing firms to shut down or decrease output (sometimes methods of capturing profit can cause profits to go below zero economic profits. Also the government can provide public goods when there are help when there are market failures. Economics can really only measure the efficiencies of market structure .By the “best” system I assume you mean one that produces wealth that is “shared” and not “concentrated” and that is a question of what is the desirable distribution of wealth which cannot be answered directly by economics? I wonder if a particular distribution of wealth can justified on the grounds that it the most efficient. I was going to ask my teacher that but the semester has ended im taking All philosophy courses in attempt to find a major that will excite me to pursue it further in graduate school, hopefully escape I life dammed to wage slavery working with people obsessed with conspicuous consumption. I may have made a mistake or two in my little thing hear I’m not a very good economics and I don’t feel like checking the precise wording but the I believe general message is consistent with what I learned in industrial economics. Efficiency ATC's minimum, etc other efficiencies) with the governments theoretical ability to attempt to regulate or force non competitive firms to act more like competitive structures and if that fails capture some of a noncompetitive firm profit above p=mc. However it is debatable whether the government can actually do this efficiently and without causing firms to shut down or decrease output (sometimes methods of capturing profit can cause profits to go below zero economic profits. Also the government can provide public goods when there are help when there are market failures. Economics can really only measure the efficiencies of market structure .By the “best” system I assume you mean one that produces wealth that is “shared” and not “concentrated” and that is a question of what is the desirable distribution of wealth which cannot be answered directly by economics? I wonder if a particular distribution of wealth can justified on the grounds that it the most efficient. I was going to ask my teacher that but the semester has ended im taking All philosophy courses in attempt to find a major that will excite me to pursue it further in graduate school, hopefully escape I life dammed to wage slavery working with people obsessed with conspicuous consumption. I may have made a mistake or two in my little thing hear I’m not a very good economics and I don’t feel like checking the precise wording but the I believe general message is consistent with what I learned in industrial economics.
2/5/05 12:35 AM
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hekster
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Edited: 05-Feb-05
Member Since: 01/01/2001
Posts: 4473
Which are the transformation countries? Also there is no society free of corruption. There are only greater or lesser degrees of corruption in any society. There are even some that argue that corruption is a useful tool for developing countries to strengthen political parties which then stabilize the governent. Same goes for free markets, there are relatively less controlled markets, but NO free markets. As far as the origins of capitalism as we know it, you must look to the long 16th century for that. Capitalism and the nation state cannot be separated conceptually.

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