SilasBarta comments on Hayekian Prediction Markets? - Less Wrong

9 Post author: David_J_Balan 15 February 2010 11:50PM

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Comment author: SilasBarta 17 February 2010 03:24:22AM *  0 points [-]

Chronos also singled out WalMart as such as receiving subsidies, which is a case of "agree denotationally but not connotationally". If the government taxes everyone to provide police protection to everyone, you can equally say that "Wal-mart's protection costs are subsidized" and it would be just as vacuous.

To the extent that Chronos was singling Wal-mart out, he is in error for that reason. That was my point.

Furthermore, claiming that other shipping methods are crowded out implies that Wal-Mart's founders would have been helpless about handling that environment, which is wrong. (Again, it's technically correct, but misleading.) It's like the case of "oh, GM is a big company, but only got that way because of government contracts for tanks ..." -- as if GM would have just carried on making worthless tanks for a non-existent market if not for those government purchases!

Comment author: Matt_Simpson 17 February 2010 04:16:04AM 1 point [-]

Furthermore, claiming that other shipping methods are crowded out implies that Wal-Mart's founders would have been helpless about handling that environment

I don't understand where this implication is coming from

Comment author: wedrifid 18 February 2010 12:00:58PM 0 points [-]

Politics is a mind killer.