Awesome presentation on capitalism and socialism

[a500lbgorilla]

People do act rationally, just not perfectly. Rationality in economics is a little different than how we use it colloquially. Colloquially, we think of it as wisdom, but in economics it isn't necessarily about wisdom, but more about cause and effect and perhaps accountability.

Capitalism indeed allocates capital better than socialism because the decision-making is more consequential

Yeah, I just read a fun book that talked about the differences between the Economic Man and, you know, actual people. So I disagree.

I don't mind saying that Cap is better than Socialism. Just recognize what you know and don't know when you're saying it.

Everything in life is a hackjob. Especially where people are concerned. No reason to expect anything different when it comes to whatever form of social structure we manage to build up.

[d0zer]

Everything in life is a hackjob. Especially where people are concerned. No reason to expect anything different when it comes to whatever form of social structure we manage to build up.

This point seems often lost in these discussions where theory reigns king.