Wednesday, July 4, 2018

The Market Is The Most Useful Tool

Comment on: If Socialists Understand the Free-Rider Problem, Then Why Are They Socialists?

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Do your readers equally value your blog entries? Are your entries equally useful/beneficial/important? Do you think that you can accurately guess the demand for topics? If so, then markets wouldn't be so incredibly useful.

Right now, as far as I can tell, your blog isn't a market. Readers don't have the freedom to "donate vote" for your best entries. This means that you don't know the demand for topics, which means that your supply of topics is suboptimal.

Just like your blog isn't a market, and just like your products aren't equally useful, the same is true of unions. This means that unions don't know the demand for their products, which means that their supply of products is suboptimal.

In order to help socialists, and your readers, understand why the market is such an incredibly useful tool, you first have to actually understand this yourself. If you genuinely desire this understanding then turn your blog into a market. Give readers the freedom to use their donations to reveal their demand for your products. See if the supply noticeably improves.

So no, the problem isn't that socialists don't understand the free-rider problem. The problem is that libertarians don't understand how and why markets work. The market is the most useful tool, but libertarians fail to use it to improve their products.

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