alt Hacker NewsNo. Capitalism is supposed to be a rejection of this kind of central planning attitude, where someone sits in an armchair thinking about what kinds of products people should or should not have from a "global allocation perspective". I understand the market dynamics he's pointing towards, but it's not the kind of thing a CEO ought to be saying.
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edmundsauto • yesterday at 6:03 PM
Isn’t capitalism basically where the capital owners decide the allocation? This isn’t central in the governmental sense where the capital allocation is decided by force, it’s the capital owners being willing to pay a higher price and therefore their use case is more valuable?
Not advocating the position.
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He’s a rational actor, acting in his own interest. This, along with the other arseholes in similar situations acting similarly, ought to result in optimal allocation of ressources. That is the philosophical foundation of capitalism.
Greed is good, remember?