XPost: alt.society.liberalism, alt.atheism, talk.politics.guns   
   From: lunch@nofreelunch.us   
      
   On Sat, 18 May 2013 07:25:44 -0800, linuxgal    
   wrote in alt.atheism:   
      
   >Free Lunch wrote:   
   >> Spending puts money into the economy. Because the rich spend less of   
   >> their income than those who are poorer, taxing them and spending that   
   >> money helps the economy more than doing nothing.   
   >   
   >The market automatically sends signals to investors where to efficiently   
   >allocate their money.   
      
   As was noted three-quarters of a century ago in the book "Where are the   
   Customers' Yachts", it does not. The market makes money for the   
   market-makers, the intermediaries. I actually accept most of the   
   implications of the Efficient Market Hypothesis, but that does not mean   
   that the market itself is allocating money to needed uses.   
      
   We also know that businesses do not allocate new capital, the only   
   capital that matters to the economy, efficiently. New industries are   
   always oversubscribed initially, whether rail, steel, auto, computers,   
   or internet.   
      
   >Government spending is done at the whim of   
   >politicians who want to curry favor from voters.  You are taking energy   
   >from the market system and transferring it to the social engineering   
   >system.   We see the result of that misguided endeavor from Europe to   
   >North Korea.   
      
   So you think the rich should be able to take even a larger share of the   
   economy and the poor should what? Die?   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)