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I'll guess I'll bite one last time I guess...
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Posted by James [Email] (more from James) on Tue, 30 Nov 2010 03:53:50 Share Post by Email
In Reply to: Re: balance + the Nolan chart, Tim, Mon, 29 Nov 2010 19:18:09
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It is the general board, but the subject matter of this discussion (while interesting to me) may be walking too close to the line of "political" for Scott (and others).

Libertarian ideas are not new to me (in a basic sense) + probably held more appeal to me 15 years ago (when I was reading Ayn Rand) than they do now, though I largely do still have those leanings (so find some agreement in some things you say). It represents an idealistic extreme, much like communism represents an extreme (that is idealistic to some people).

I like your "innocuous placeholder" government view, but I do find that there are areas where a government has something more to offer. Here is a concrete example (in my field): In science + technology, new ideas come out of early stage *fundamental* research. In industry, the focus is on profitability today. Industry is keen to fund research that has a decent likelihood of producing something useful in the short term. Fundamental research does not usually do that, but it is still valuable! A government institution (while possibly inefficient) can provide funding to fundamental research (that it would otherwise not get from industry), some of which is ground breaking + game changing + stimulates new industry (+ some of which is crap). This is simply because the government's priority is long term development of industry vs short term profitability for a specific corporation. That some of the research is not worth funding is irrelevant if some *fantastic* research does get funded. Think of it as early stage "early stage VC".

Imho, along those lines, one of the more important things to look at when choosing a government is do they have a long term view, or are the goals 4 years in nature!

So my point is that libertarianism, while good in some ways, is utopian... there is a balance point where we can obtain a maximum usefulness from government without undue waste. And of course the specific balance point is different for different people!

and by doom + gloom, I mean that I don't agree with the depth of your predictions, not that the predictions are wrong, not that repricing is bad, or that the binge is good (and I've commented for years that we've been experiencing significant inflation (contrary to "expert" commentary), through deflation of quality at constant price)...

I think we largely agree, except to the extent. Like before, I'd be happy to discuss further off the board, but I'd better stop here...

James...

posted by 67.158.74...


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