Post #4282823
2026-07-31 15:34 UTC
Replies (5)
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@phaedral@beige.party 2026-07-31 15:36
@dbattistella@mstdn.ca The underlying fallacy of "modern" economics is found in von Neuman and Morgenstern's "Theory of Games and Economic Behavior," in which they posit, unfounded but uncontested, that "money IS utility." Thus they usher in the back-door of pseudo-reasoning and pseudo-science the ancient divine right of kings and slit the throat of any who would argue enlightenment principles of common good for all.
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@spytfyre@mastodon.scot 2026-07-31 16:01
@dbattistella@mstdn.ca yeah but IPhones are cool. Right?
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@the5thColumnist@ottawa.place 2026-07-31 18:50
@dbattistella@mstdn.ca The market does a great job of allocating resources where the profits are highest but a lousy job of allocating them where the need is greatest. #capitalism
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@OvertonDoors@infosec.exchange 2026-07-31 19:54
@dbattistella@mstdn.ca But why would it succeed at doing what it was never intended to do?
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@ahm42@ruhr.social 2026-08-01 08:24
@dbattistella@mstdn.ca And this is not a bug. It‘s a feature.