Category Archives: entrepreneurship

Remember MySpace?

HT Lorenzo Warby

Advertisements

The labour theory of value

“A few observations:

  1. The Labor Theory of Value is incapable of functionally explaining even basic economic relationships. See Menger 1871.

  2. The notion that class identity functionally drives political or any other type of collective action is hopelessly incoherent and undermined by a pervasive free rider problem. See Olson 1965.

  3. Even if one were to assume that the initial allocation of all property is by mere theft (and it is not), its effectual consequences are entirely subordinate to the question of whether property rights exist in the first place. See Coase 1960.

  4. The predictive ability of historical materialism in the ~150 years since its formulation is practically zero, although the cost of attempting to force its predictions into being is several hundred million bodies.

  5. In practice, the concept of alienation is indistinguishable from subjective emoting about things that the individual exhibiting “estrangement” envies, and envy is a difficult concept to defend as the basis of a system of social allocation as it reduces to little more than subjective valuation executed by forcible acquisition.

If the above observations are true, what exactly remains again of the Marxist system of thought that is of any value in explaining anything?”

  • Phil Magness

Our house too big for ultrafast broadband hook-up @stevenljoyce @TaxpayersUnion @EricCrampton

Your picking loses detector is at maximum when governments are retrofitting infrastructure in the suburbs. We just had Chorus in to retrofit ultrafast broadband to our house. Our house is too big and complicated to rewire.

In addition to stringing a wire from the road to a ATC box, as with everybody, we need to rewire from that box to my office for another ultrafast broadband box next to my computer on the other side of the house 2 floors up. I was told I would need an electrician to do that as the house is already built, most of the wires will probably be external, ugly and I would have to pay for it and the drilling through my floors.

Seems like the political genius behind government paying for ultra fast broadband including fitting it into my house assumed everybody had a nice simple one story house where the office was near the ACT box so there would be minimal rewiring. That would involve minimal internal wiring.

If I want to proceed, I need to bring in an electrician and as the house is already been built, he will need to drill holes, string wires and then the chorus team will come back. The alternative was to have my modem just above the ATC box in the spare bedroom and the rest of the house operate including my desktop in my office on Wi-Fi which seems to very must defeat point of ultrafast broadband indeed.