Is there a benefit to racism?

[*michaelsean*]

(08-15-2018, 02:34 PM)Belsnickel Wrote: So talking about speculative markets makes this difficult to get across. I maintain that what I said holds true even in speculative markets, but this conversation would go on and on.

The basic component of an economy is the transaction. Person A exchanges goods and/or services to person B for goods and/or services. Something of value. That is the foundation of an economy. Unless transactions occur where both sides are of equal value, one person is winning and one person is losing because one person is giving more than they are receiving. If all transactions were based on equal value, then there would be a completely egalitarian society with a 0.0 Gini coefficient. However, that is not the case here. In order for income/wealth inequality to exist, there are winners and losers.



An egalitarian society can never exist with capitalism. It is impossible, even in theory, because capitalism is based on there being these winners and losers in these transactions. Without them, there would be no profit.

I'm not claiming there aren't losers as there always are, I'm just saying there doesn't have to be a loser in order for wealth to be created. Somehow we are far more wealthy today than we were in 1800.  And where do natural resources fit in?  What if I find gold?