Abbyas
Muse
- Joined
- Nov 18, 2005
- Messages
- 684
The 90% of the World thread's break off into estate tax and wealth got me thinking about where people stand on the above.
My thinking is along these lines. The human desire is not to work but to play. In order to get people to work, we must pay them. In order to get people to fill necessary roles that require more education or higher capital risk, we must pay them more. The best way to determine what roles society needs filled is with a free market system.
This doesn't mean I'm for unfettered capitalism. Economists note that the market does not correct for externalities. Externalities happen when the social cost or social benefit is not included in the price of the good. For example, the social cost of pollution is not included in the price of a car. And the social benefit of an educated child is greater than the cost of the education, hence free schools. (I also believe that the social benefit from a healthy individual is greater than the cost of health care, ergo free health care, but that's another issue.)
My thinking is along these lines. The human desire is not to work but to play. In order to get people to work, we must pay them. In order to get people to fill necessary roles that require more education or higher capital risk, we must pay them more. The best way to determine what roles society needs filled is with a free market system.
This doesn't mean I'm for unfettered capitalism. Economists note that the market does not correct for externalities. Externalities happen when the social cost or social benefit is not included in the price of the good. For example, the social cost of pollution is not included in the price of a car. And the social benefit of an educated child is greater than the cost of the education, hence free schools. (I also believe that the social benefit from a healthy individual is greater than the cost of health care, ergo free health care, but that's another issue.)
