View Single Post
  #345  
Old 09-23-2013, 04:59 PM
Elmarnieh Elmarnieh is offline
Sarnak


Join Date: Nov 2012
Posts: 226
Default

Law of Disproportionality-

Compared to what? Rare shortages and surpluses that are autoamtically resolved in quick manner by price signals. When was the last time you went to the store and couldn't find what you needed in stock in the US? Lets compare that to well-known shortages and wait times in socialist nations (Cuba, former USSR, and right now Venezuela is taking over a toilet paper factory because their economic policy causes it to be no longer worth it to manufacture http://www.cnn.com/2013/09/21/world/...per/index.html ).

It's very easy to attack a thing when you don't compare it to the alternative you're offering. I've never run out of toilet paper. I've never stood in a line only because there was a line. I've never gone to a store to gaze longingly at basic consumer electronics.

Law of Accumulation

This is actually a few fallacies wrapped into one. Increase technology leads to increased efficiency but to argue that technology only puts people out of work well our technology is many times greater than it was in 1932 yet there are more people employed in the US than existed back then and the rate of employment is higher. It in effect calls for the destruction of all computers and copiers and the return of hand messangers and scriveners. Its a call for luddites.

The second fallacy is that it assumes accumilation of capital is a bad thing.

Law of Falling Rate of Profit

Assumes a fixed profit margin. Assumes no innovation (which meshes nicely with the fallacy in the "Law of Accumulation".