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MindReflects
3.2K posts

MindReflects
@MindReflects
Wisdom is about curiosity, reflection, the willingness to understand deeply and to put in the necessary effort. It is a journey.
Finland शामिल हुए Haziran 2013
332 फ़ॉलोइंग57 फ़ॉलोवर्स

@Morrigon36 @HanikaAlex76444 @MaryRuwart This at least the fourth time. All wealth is based on labor. That value which is accrued through property relations alone is the exploitation of the workers as the value has been extracted from their labor.
There is also the opportunity cost inherent in this dynamic.
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@MindReflects @HanikaAlex76444 @MaryRuwart You still have not told me who is being exploited or how he is doing it?
Private capital refers to investment capital deployed in private markets—that is, assets and companies that are not publicly traded on stock exchanges. what's evil here?
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@Morrigon36 @HanikaAlex76444 @MaryRuwart This equality you are referring to was not present in their thinking. This is what I pointed out.
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@MindReflects @HanikaAlex76444 @MaryRuwart Your looking at a Past event and putting today's values on that event. It wasn't seen like that at the time. We used to be cavemen and paint on walls that would get you arrested today are you saying cave men are evil?
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@Morrigon36 @HanikaAlex76444 @MaryRuwart No, this represents a scale of exploitation never seen before in human history. It shows the rotten core of the power of private capital.
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@MindReflects @HanikaAlex76444 @MaryRuwart His Value increased $200B Because he created Value in the Stock he owns and the stock went up. You can buy stock you know It's not illegal or even evil
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@Morrigon36 @HanikaAlex76444 @MaryRuwart The Americans of that time were at height of slavery and still performing the genocide of locals. Hardly, equality for all. Thankfully, the enlightenment values developed further.
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@MindReflects @HanikaAlex76444 @MaryRuwart We are America because of this very day July 4th 1776 and are founders wanted a Country that everyone could be equal
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@Morrigon36 @HanikaAlex76444 @MaryRuwart No, such power makes anyone insane. The amount of exploitation inherent in such sums tells a sad story.
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@Morrigon36 @HanikaAlex76444 @MaryRuwart You asked a funny question, you should turn it around and ask to which degree is Musk entitled to the money he already possesses? Musk made $200 billion in 2025 alone. That gives an average of around $23 million per hour every hour during the year. Even when sleeping.
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@MindReflects @HanikaAlex76444 @MaryRuwart yes they was building the constitution of the united states. He was learning from past mistakes and addressing them so they could build a free country
How is this relevent?
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@Morrigon36 @HanikaAlex76444 @MaryRuwart "As soon as the land of any country has all become private property, the landlords, like all other men, love to reap where they never sowed, and demand a rent even for its natural produce"
- Adam Smith, The Wealth of Nations (1776)
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@Morrigon36 @HanikaAlex76444 @MaryRuwart I don't think this is an interesting question. The more interesting question is to how to subdue the power of private capital to serve the interest of the people, not to exploit the people.
Recall, how Adam Smith was famously against the profit maximizing behavior of landlords.
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@Morrigon36 @HanikaAlex76444 @MaryRuwart The context was that A and B were in a room. A wakes up first and declares all to be his property. Then B wakes up. As B gets thirsty and A wants to maximize profit, A will be able to exploit B quite badly. Here we see how profit maximizing behavior turns evil.
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@MindReflects @HanikaAlex76444 @MaryRuwart I'm Fairly sure you used in a context that said something along the lines it was bad for people to maximize there wealth I don't remember (or want to) a conversation about prisoners. Are you liberating the prisoners now?
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@Morrigon36 @HanikaAlex76444 @MaryRuwart No, I said that in certain contexts optimization behavior can lead to the worst outcome, see the prisoners dilemma.
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@MindReflects @HanikaAlex76444 @MaryRuwart I'm fairly sure you said Maximizing and optimizing was a nono
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@Morrigon36 @HanikaAlex76444 @MaryRuwart But in the real world these numbers do have value. The difference is that there now is a connection to my well-being.
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@MindReflects @HanikaAlex76444 @MaryRuwart That's your choice. Your last last guy standing and you definitely can decide the worth of number. I don't think anyone will mind
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@Morrigon36 @HanikaAlex76444 @MaryRuwart Theory of Wall Street is just a basic optimization problem. You want to optimize the a certain number and that's it. Nothing too deep about it, perhaps one can admire the techniques and the mathematics behind the optimizations.
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@MindReflects @HanikaAlex76444 @MaryRuwart I don't know enough about the theory of Wall Street. I don't really care. It sounds like a fun problem to solve but hard pass
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@Morrigon36 @HanikaAlex76444 @MaryRuwart If I were the only human left on the planet, the credit number loses all its value. The number cannot be turned into something that sustains me or that which entertains me. The path from that number to my well-being is cut out.
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@MindReflects @HanikaAlex76444 @MaryRuwart Again yes it's Valuable to you. You can't convert it into Credit to pay your bills tho
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@Morrigon36 @HanikaAlex76444 @MaryRuwart The number you are talking about is exchange value. It has very little to do with true value. Breathable air has immense value but no exchange value. Burning your business down has a lot of value to your competitor but not to you. What is then the value of burning the business?
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@MindReflects @HanikaAlex76444 @MaryRuwart Yes Value is Subjective. That painting i payed $100 to make . No one person would agree on its Value. The person that is willing to pay the most would get that painting creating it's Value to that person
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@Morrigon36 @HanikaAlex76444 @MaryRuwart A proper theory of value has to account both the subjective part and the objective part of value. The copout of letting the markets decide fails badly. There is no obvious way of solving this issue, but well-being seems to be the best foundation.
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@MindReflects @HanikaAlex76444 @MaryRuwart Ok it has Value to you but can you convert that into Value for someone else. I have lots of things I think are Valuable but no one would give me even a dollar for
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@Morrigon36 @HanikaAlex76444 @MaryRuwart The point is that subjective theory of value breaks down the moment two agents' views contradict in meaningful ways.
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@MindReflects @HanikaAlex76444 @MaryRuwart Yes service has value but once payed and the building is ash where is the value. The guy you payed has credit and he will use it on something else and so on and so on
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@Morrigon36 @HanikaAlex76444 @MaryRuwart No, because I wanted it to happen it increased in value, according to the subjective theory of value.
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@MindReflects @HanikaAlex76444 @MaryRuwart The building you burn down will loose Value tho. If that's what you ment
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@Morrigon36 @HanikaAlex76444 @MaryRuwart According to you, if I was willing to pay money for it, that it is its value.
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@Morrigon36 @HanikaAlex76444 @MaryRuwart If I'm willing to pay money to somebody to burn your business down and they do it, will this be valuable?
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@MindReflects @HanikaAlex76444 @MaryRuwart If someone will buy the air and the sun then the Value would = the amount you got for it yes.
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@Morrigon36 @HanikaAlex76444 @MaryRuwart Does the air or sun light have no value? If scarcity were to increase, would it then have value?
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@MindReflects @HanikaAlex76444 @MaryRuwart Value is what someone else will pay for said Item. Money is just credits. You get credits for services you provide. You think a Painting on canvas and a frame you can buy for $100 can't be worth millions to someone?
You burn that painting how much will you get for the Ashes?
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