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From: gadfly@ihu1m.UUCP (Gadfly)
Newsgroups: net.politics.theory
Subject: Re: What is "capitalism"?
Message-ID: <415@ihu1m.UUCP>
Date: Tue, 7-May-85 10:03:51 EDT
Article-I.D.: ihu1m.415
Posted: Tue May  7 10:03:51 1985
Date-Received: Wed, 8-May-85 04:53:24 EDT
References: <441@gargoyle.UChicago.UUCP> <1831@topaz.ARPA> <1008@uwmacc.UUCP> <1855@topaz.ARPA> <1015@uwmacc.UUCP> <1906@topaz.ARPA>
Organization: AT&T Bell Laboratories
Lines: 26

--
>                    ...If instead you use the first year to build
> machines that multiply your productivity 100-fold, you can produce
> 200,000 balusters in the succeeding two years; if you spend the
> first year building machine-making machines, and the second using
> them to make 100 times as many machines, the third year you make
> 10,000,000 balusters.  Using the "*human labor*" method you will
> accumulate 10,000 balusters in ten years; using the capitalist
> method you will make 1,000,000,000,000,000,000,000 in the tenth year.
> If capitalism were allowed to flourish, everyone in the world would
> soon be rich;  under the socialist regime of squabbling over the
> pieces of an ever-shrinking pie, we will all soon be utterly equal
> in wretched poverty.
> 
> --JoSH

Surely you jest.  Even Marx dealt with that kind of scheme.  So did
Ponzi.  Capitalism has its strong points, but the misery brought
about by boom-and-bust overproduction is not one of them.
-- 
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