Apparently the opinion that everyone who works should have a living wage is controversia. Just wait until you hear universal basic income!
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Replying to @kubukoz
The idea isn't controversial, the problem being that historically the standards of living were raised more by growing the economy (this dreaded effect of capitalism), and less by activism or wealth redistribution. So we may disagree on how to get there.
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We are talking of ideologies ofc — it's important for capitalists like me to realize that even Adam Smith wasn't against progressive or "luxury" taxes, or regulation to keep the market free. But one mistake that socialists do is in thinking that this is a zero-sum game.
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It's not a zero sum game but you would probably agree that the current economy is invested too much into betting and too little into actual value creation and bailing out the losers with public debt which you hope you never have to repay sounds dodgy to say the least.
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Bailing out the losers b/c they are "too big to fail" can hurt the free market, and happens in order to keep people employed, and avoid an economic recession — whether such bails actually avoid recessions, IDK but sounds nonsensical to me...
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Betting is what drives innovation. E.g. we may not see any value in cryptocoins right now, only downsides, but we can't predict the future very well. I'm more worried about "rent seeking" & monopolies. Adam Smith himself wasn't against regulation for keeping market free.
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