Socialists drive produce arbitrary rule disregarding not only the external but the internal, and driving people into the market for corruption, rent seeking, and black markets. So the capitalism vs socialism debate distracts us from the west’s origin: Rule of Law by reciprocity.
Source date (UTC): 2019-09-25 23:17:16 UTC
Original post: https://twitter.com/i/web/status/1176999138925436928
Reply addressees: @BobMurphyEcon
Replying to: https://twitter.com/i/web/status/1176998003133079553
IN REPLY TO:
Unknown author
@BobMurphyEcon The capitalism vs socialism dichotomy is yet another bit of Pilpul to distract useful idiots. The question is and always will be Rule of Law vs Rule by Discretion. Rule of law produces markets limited by externality, where “capitalists” want free trade regardless of externality.
Original post: https://x.com/i/web/status/1176998003133079553
IN REPLY TO:
@curtdoolittle
@BobMurphyEcon The capitalism vs socialism dichotomy is yet another bit of Pilpul to distract useful idiots. The question is and always will be Rule of Law vs Rule by Discretion. Rule of law produces markets limited by externality, where “capitalists” want free trade regardless of externality.
Original post: https://x.com/i/web/status/1176998003133079553
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