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especially once you allow for the positive offsetting effects of markets on human well-being in addition to the negative ones.

Ah, no, you don't get to do that, unless you wish to postulate that those positive effects would not have accrued under the alternative development path where social democrats had prevailed over neoliberals. The alternatives are not neoliberalism or autarky, neoliberal propaganda notwithstanding.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Feb 23rd, 2011 at 03:40:06 PM EST
[ Parent ]
No, you do have to do that. Markets both help as well as harm people, even the same people, and even if a net result can turn out to be negative over all. As an example, more expensive water has to be weighed against better access to cell phones. Bullets are a bit more restrictive in that respect. The cases where there can be an upside to being shot are pretty limited.
by santiago on Wed Feb 23rd, 2011 at 03:49:35 PM EST
[ Parent ]
I was not arguing that you couldn't count the positive effects of markets under Pinochet in favour of neoliberalism at all. I was simply pointing out that you can not count the positive effects that would also have accrued under Allende. Just as it would be unreasonable to count the negative effects of markets that would have accrued under Allende against Pinochet.

Another way to make the same point is that if the market for a firm's products increases by twenty per cent, and a company's sales go up only fifteen per cent, then the CEO is underperforming by five percentage points, not overperforming by fifteen.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Feb 23rd, 2011 at 03:58:19 PM EST
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I see what you're saying.  Good point.
by santiago on Wed Feb 23rd, 2011 at 05:18:53 PM EST
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What's this? Intelligent discourse working?

On ET?  

"Life shrinks or expands in proportion to one's courage." - Ana´s Nin

by Crazy Horse on Wed Feb 23rd, 2011 at 05:44:08 PM EST
[ Parent ]
Print this exchange, chrome plate it and frame it.

Capitalism searches out the darkest corners of human potential, and mainlines them.
by geezer in Paris (risico at wanadoo(flypoop)fr) on Wed Feb 23rd, 2011 at 10:22:21 PM EST
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