Comments by "Hobbs" (@hobbso8508) on "Capitalism vs. Socialism: A Soho Forum Debate" video.

  1. 3
  2. 3
  3. 3
  4. 2
  5. 2
  6. 2
  7. 2
  8. 2
  9. 2
  10. 2
  11. 2
  12. 2
  13. 2
  14. 2
  15.  @evann32033  Will doesn't do arguments. He just waits for you to make a point, makes up some nonsense, then throws out insults. He is nothing because he stands for nothing. As for the Soviets, not really. Take their farming cooperative practices. The idea was that large farms were given collectively over to the workers who farmed them. The roadblock however was that the Soviet state put in state appointed managers to decide what was farmed and when. The farmers had zero say over who was in charge or what decisions were being made. It was as close to a worker cooperative as any capitalist business. The same continued for any other form of attempt to democratise the nation. Factories were managed at the top level using a 3-way system of governance. Equal decision making was given to the workers unions, the factory managers and the state. But factory managers were appointed by the state. So if they ever sided against the state what would happen to those managers? And that doesn't even get into the government elections. Since they used vanguardism to manage the nation, the vanguard were not voted in, ever. They could also not be removed. The vanguard then appointed political officers, who could theoretically be voted out by the locals. However should anyone ever get voted out, it was up to the state to fill the spot with someone new. Elections could then be delayed, giving the new person in charge time to actively punish the decision to remove their predecessor. Not to mention the mental game of only having a single candidate on the ballot, and being forced to remove, not elect them. Add to that the fear of retribution, and your democracy is just more feudalism with extra steps.
    2
  16. 2
  17.  @willnitschke  "There are no shares." Yes there are. Equal shares, one per employee. "Except your ideology pretends to advocate for democracy, requires giving unlimited economic power to government" Except we're talking about worker cooperatives, which are not government. In fact within businesses owners already have 100% unlimited power. They are tyrants of their own domain. So thanks for arguing against capitalism. "They are not owned by individuals, hence individuals own nothing." They are owned collectively by the workers. "Who owns the national bus service? Can you identify the owner?" Owners, plural. It is owned collectively by all of the people within society, and managed by their elected representatives. "I mean, you can't show up at a bus depot and take a bus for a spin." Wait, do you think if you have shares in a company you can just show up and use their stuff? Do you think having Apple stock mean you can fly over to their offices and use their computers? Shares never give you the ability to just do whatever you want. They instead allow you to vote on the direction of the company. That's just how shares work. The only difference between publicly traded shares and worker cooperative shares is the method used to obtain those shares. Everything else about them is identical. "Does it confuse you that things can exist that aren't "owned" by someone?" You're just confusing yourself now. I mean seriously, your argument is that some businesses don't have owners. That's ridiculous. "There are no dividends, 99.9% of the time." Source? "There is no "tyranny" working at a business. You can just get another job if you don't like it." Don't worry. If you don't like working for someone who has absolute power over your working life you can always leave and work for someone else...who also has absolute power over your working life. "If an employer does something truly reprehensible, then there exist workplace laws to protect working people anyway." Depends on the country really, but thank you for agreeing that regulations enacted by a democratically elected government are essential to protecting workers. "I'm not "for" or "against" imaginary things, any more than I am for or against unicorns." Scotland will be very upset to hear that. "Yet the Far-Left always creates dictatorships in the real world 100% of the time." The left is literally incapable of making a dictator as dictatorships require anti-democracy. As I said, the right-wing is anti-democracy. They are anti-democracy in both government and in business.
    2
  18. 2
  19. 2
  20. 2
  21. 2
  22. 2
  23. 2
  24. 2
  25. 2
  26. 2
  27. 2
  28. 2
  29. 2
  30. 2
  31. 2
  32. 2
  33. 2
  34. 2
  35. 2
  36. 2
  37. 2
  38. 2
  39. 2
  40. 2
  41. 2
  42. 2
  43. 2
  44. 1
  45. 1
  46. 1
  47. 1
  48. 1
  49. 1
  50. 1
  51. 1
  52. 1
  53. 1
  54. 1
  55. 1
  56. 1
  57. 1
  58. 1
  59. 1
  60. 1
  61. 1
  62. 1
  63. 1
  64. 1
  65. 1
  66. 1
  67. 1
  68. 1
  69. 1
  70. 1
  71. 1
  72. 1
  73. 1
  74. 1
  75. 1
  76. 1
  77. 1
  78. 1
  79. 1
  80. 1
  81. 1
  82. 1
  83. 1
  84. 1
  85. 1
  86. 1
  87. 1
  88. 1
  89. 1
  90. 1
  91. 1
  92. 1
  93. 1
  94. 1
  95. 1
  96. 1
  97. 1
  98. 1
  99. 1
  100. 1
  101. 1
  102. 1
  103.  @ExPwner  Aww, you don't want to say it because you just figured out what reduced labor share of revenue is didn't you. FYI, it means labor is getting paid less per unit of productivity. But sure, lets break down you new points: "Namely improperly using two different measures of inflation" Except BLS addressed this exact point, using an appropriately matched deflator, and were still left with a gap in 83% of industries. "trying to compare only some compensation to all of productivity" Nope. BLS account for this as well. They use all wages and benefits combined. "If you start with the false comparison of only part of the compensation to all of the productivity then you will get a manufactured and totally fake “gap”" Again, BLS uses all compensation. "Part of this will be because of labor being a lower share of total income." Pretty sure you meant to say they are a lower share of total productivity here. And this is why you only compare labor productivity to labor compensation. Why would we use a mismatched metric for productivity here? There is no reason to include something like personal rental income when reviewing labor productivity and compensation. "From the sources I have seen, labor constitutes a lower share of total compensation over the years." Which again, is why you only compare labor productivity to labor income. I mean seriously, one of your main arguments is that we should be using total factor productivity, but we are expressly measuring if labor is being compensated for the production that they produce. Why use anything other than labor productivity? "If that has methodology issues I am happy to hear, but it wouldn’t seem to square with a larger retired population that doesn’t work but does draw incomes." They don't use retirement income at all. They are reviewing people working and comparing the revenue they produce in their industries with the compensation they receive. So it seems like you realised your error, tried to cover desperately, but since you don't actually know anything more on the subject than what the Heritage Foundation has told you, you are stuck trying to actually understand and argue these points. Sooooo checkmate.
    1
  104. 1
  105. 1
  106. 1
  107. 1
  108. 1
  109.  @willnitschke  "This is the same as zillions of Americans live below the global poverty line of USD $2.15 per day!" Still struggling with that calculation I see. Before it was 350,000 and now it's "zillions". Maybe Jimmy can help you figure out what 1.2% of the US population is. "He ignores basic logic, because nobody can buy enough food to survive on $2.15 a day or less, so all these people would be dead." Again, a week's worth of fortified rice is $2. You would have $12 to spare and would still be below the poverty line. "He then appeals to food banks, except that just means that total received benefits exceed $2.15 a day." Food banks are not benefits, they are charity. Charity is not a benefit. This is a fun point though, as World Bank uses data based on consumption, and would in fact account for food banks. "If you read the paper by Shaefer and Edin, then you discover that the $2.15 a day figure is based on ONLY considering actual wages, and not other benefits or entitlements." Not only is this false, as the World Bank uses data based on consumption rather than income whenever possible, but even in this very study they use an income + SNAP calculation and find that poverty is still not 0%. In fact it has been increasing in the last 30 years, and was at 0.6% in 2012, which is still 2 million people. They also don't have numbers for this decade. "And it's based on at least 1 month in 12 of unemployment." False, for 3 reasons. 1. It's based on 3 months of zero income. 2. Unemployment usualy gives people unemployment benefits, which are income. 3. Again, World Bank use consumption data. So they would be measuring how much people used, not how much they earned. This would mean things like SNAP, TANF and all the other benefits would apply as they would directly contribute to consumption data. "Yes, if you're a gig worker, maybe you won't get a gig, hence earn income, for weeks at a time." Depends when you are surveyed, but if you are purchasing and/or consuming less than $60 of food and/or clothing in a given month then that's clearly a poverty situation. You aren't using your wealth from the gig work to take care of yourself, you are actively spending as little as possible making it through the tough time period you are currently living in. I would strongly suggest just going to the World Bank website and reviewing their methodology section, rather than relying on an 11 year old study that likely isn't even reviewing the same methodology as the current data. They don't even use the same dollar threshold.
    1
  110. 1
  111. 1
  112. 1
  113. 1
  114. 1
  115. 1
  116. 1
  117. 1
  118. 1
  119. 1
  120. 1
  121. 1
  122. 1
  123.  @willnitschke  "For real world businesses that self describe as worker co-ops, they are typically small business LLC's with shareholders." Except shares are given to employees and cannot be bought or sold. They are owned in common by the workers. So that's not private ownership at all. "Of course. Because every single Socialist catastrophe we've seen 100% of the time in the real world is not Real Socialism" Glad we agree. "So morons like you get to advocate for identical policies" Ah yes, democracy, famously the policy of authoritarian dictators. "If you mean collective ownership, then there is no ownership." So according to you worker cooperatives are owned by nobody. "Cooperatives rarely pay dividends because they are not very profitable." Except they do pay dividends. That's because the workers own the business. They are even motivated to work harder to see better dividends. This last one you can just argue against yourself. It's more fun: "That value is zero. I don't own equities so I can vote in the shareholder meeting" "Democracy in the political sphere is there to act as a safe guard against government tyranny." Safeguarding against tyranny is the value. Your ability to vote for or against leadership within your own company, as well as voting on key issues such as company bylaws allows you to create a democratic work environment. "democracy is ugly, inefficient, unrepresentative, wasteful, corrupting, and horribly inept. But even with all these flaws, it is STILL superior to the alternative" I agree. So why are you in favour of a workplace tyranny? It's shocking to me you keep advocating for authoritarian rule, only to then tell me over and over how great democracy is. In fact here is my favourity quote. "superior to the alternative, which is government tyranny" Right. You hate tyranny...unless it's in businesses then it's totally fine. Like I said, right-wing politics is just anti-democracy.
    1
  124. 1
  125. 1
  126. 1
  127. 1
  128. 1
  129. 1
  130. 1
  131. 1
  132. 1
  133. 1
  134. 1
  135. 1
  136. 1
  137. 1
  138. 1
  139. 1
  140. 1
  141. 1
  142. 1
  143. 1
  144. 1
  145. 1
  146. 1
  147. 1
  148. 1
  149. 1
  150. 1
  151. 1
  152. 1
  153. 1
  154. 1
  155. 1
  156. 1
  157. 1
  158. 1
  159. 1
  160. 1
  161. 1
  162. 1
  163. 1
  164. 1
  165. 1
  166. 1
  167. 1
  168. 1
  169. 1
  170. 1
  171. 1
  172. 1
  173. 1
  174. 1
  175. 1
  176. 1
  177. 1
  178. 1
  179. 1
  180. 1
  181. 1
  182. 1
  183. 1
  184. 1
  185. 1
  186. 1
  187. 1
  188. 1
  189. 1
  190. 1
  191. 1
  192. 1
  193.  @ExPwner  Got it, so we agree that you still need labour, making it something produced by labour. And again, this calculation has always existed. Do you think we didn't have capital investments in technology in the 70s? Your argument is that we have greater capital invesments now in proportion to labour and output, except you have not shown that at all, and even if you did it would literally be you agreeing that there is a gap in labour compensation. And all of this is while manufacturing as a share of total output has been falling for decades, meaning there would need to be some massive capital investment in some other industry, which you also have not shown. And even if you did, you would need to account for it at literally every single industry, since almost all of them show a shortfall. But since you recently stated that retail does not produce through labour, which is nonsense as literally every industry produces through labour, you straight up called yourself out when not realising that retail is literally the most labour centric industry. Labour is responsive for all of the selling, moving and managing, with very little technological investment. The only thing you can possible hope to point to is that stock has to be purchased using capital...but that YET AGAIN shows you clearly don't understand that buying stock to sell is just pushing the production down the line to a different business that produced the goods that you just purchased, meaning it's STILL labour production. Even if we assumed you were right, that capital investment has grown massively and the result is workers are simply paid less. Even if that happened without any of those purchased machines adding to the GDP. You would still have to go back to your marginal revenue product of capital calculation to see that when you add more capital investment without adding labour you get dramatically diminishing returns. Meaning you are openly saying that the reason workers are paid less for what they produce is that business owners are using their funds less efficiently than 50 years ago. That they are failing to hire the appropriate amount of labour, and as a result they are blowing far too much money on machinary that does not get used. So thank you for this jaunt into the ever darkening reaches of your feable mind. It really does underpin how utterly entrenched you are in your beliefs, beliefs so utterly insane that even Billy thinks they are nuts. He was so triggered when I called him an ancap he replied saying they are "dumber than socialists" which I found pretty hilarious. Anyway, thanks for the laugh Jimmy. Shame you don't actually understand the points being made and continue to grasp at straws. I wish I could say this is just a phase for you, but you have literally done this over and over for years, maybe even your entire life. Cya kiddo 🙃
    1
  194. 1
  195. 1
  196. 1
  197. 1
  198. 1
  199. 1
  200. 1
  201. 1
  202. 1
  203. 1
  204. 1
  205. 1
  206. 1
  207. 1
  208. 1
  209. 1
  210. 1
  211. 1
  212. ​ @ExPwner  Since I really can't be bothered to go around in circles on this whole combine thing, lets just use a much wider ranging example to help you out. Farms used to be much smaller, and farmers used to cover only a few hundred acres each. Their tools and equipment were small, and they required a lot more workers to sew, fertalize and harvest the crops. Then comes the improvement of technology. This can be seen at many stages of farming, from hand plows, to mule drawn plows, to small tractor plows, all the way up to the massive monster machines that plow 20 rows at a time. There are however several issues with looking at this in isolation. For example, the ability of farms to plow much wider areas led to the creation of massive super-farms with thousands of acres owned by a single person. The staff they employ when compared to the food produced is far smaller, yet the total food producing area is the same as those multiple smaller farms. As the new staff are not using hand tools and are required to use larger machines they have different skillsets that requrire better compensation. Beyond that the improvement to fertalizers means that food production also increased per acre. Then you have to look at supply and demand and understand that more food does not exactly correlate to more dollars. Then the remaining workers who no longer work the fields because you don't need dozens of farm workers any more and can make due with just a handful will enter into different industries. Then you have to factor in that the equipment purchased to manage these larger farms comes from factories that produced them, factories staffed by labourers. I mean you're starting to understand the issue here right, that using a single farm as an example in a much MUCH larger economy means that you are dramatically oversimplifying the true capital investments and labour costs over time, and how that effects individual labour compensation. Then you have to review if getting a second piece of equipment will be cost effective, and if you get a second rig then you also have to employ someone to use it, otherwise you just see dimishing returns on the capital investment. So again, you really can't oversimply this and just look at the head of a combine. "So you admit we are getting more productivity from our capital investments. Thanks for finally admitting that I am right. The capital investments grow productivity more now than in the 1970s." Let me break down your points for you so you understand your own argument: 1. Productivity is increasing faster than worker compensation because capital investment is making up a larger proportion of expenditures. Except we just found that not to be the case. Capital investment is lower as a proportion of production, not higher. People are investing less money but seeing more productivity. 2. Capital investment per unit of production is smaller because capital is creating production more efficiently per dollar. But your previous argument was that capital investments are larger and that is why production is up more than compensation. Now you are arguing that capital investments are smaller, and that ALSO proves your argument that capital is causing productivity to go up faster than labour compensation? So which is it? Is capital investment per unit of production increasing or decreasing. Should workers be compensated for their usage of tools to generate revenue. Not only that, but again, as technology improves you have 2 types of labour. Labour that learns to use the new technology and is then compensated as a result, and labour that must change industry due to a lack of a need for more labour. In both cased labourers will be compensated more overall in the general economy. But as explained, that increase is lower than the total production. So what we really have is you arguing that since technology has improved so much in the last 50 years, we should not be compensating workers as much as we used to, even though the price of the techology we are using to increase production has reduced. In other words, you want employers to see a higher return on their capital investments without any justification as to why they deserve this rather than compensating their works.
    1
  213.  @ExPwner  "You are wrongly equivocating inputs and outputs. Expenditures are not outputs" Expenditures have to spend that money somewhere. In the case of capital equipment, you are spending money to purchase from a different company. Your capital investment is another company's revenue. You are literally adding to the GDP. Again, this is the issue with not addressing this at a macroeconomic level. "There is more total capital expenditure." But less per unit of production. "This capital expenditure is more productive." Sure, and? Nobody is arguing otherwise. The productivity graph literally already accounts for that increase. It's literally the entire point of the graph, and you are trying to add the fact that production went up into the graph again, accounting for it twice. It makes zero sense. The point is that the people using these tools more advanced, the tools that cost less money than before, are being compensated less for the revenue they are producing. "The fact that the expense to production ratio went down proves my point, not yours. " So let's just ignore that your previous argument was that capital expense to production ratio went up. If we are spending less on capital per unit of production, and less on labour per unit of production, where is that extra production revenue going? It's not going on capital expenditures, and it's not going on labour, so where is it going? "Again, go back to the apples and oranges basket example. I went from 3 apples and 3 oranges to 3 apples and 5 oranges. Did my total oranges go up? Yes, it did. Did the ratio of oranges to total sales go down? Yes, it also did that. We can clearly see more oranges being used and a higher output per orange sold." Except we just showed that the number of oranges went DOWN not UP. Capital expenditure as a proportion to GDP is DOWN not UP. We aren't dealing with 5 oranges, we are dealing with 2. "None of this has anything to do with anyone’s feelings about what you think people should be paid." I agree, it has to do with what labour produced. Labour produced more, by your own admission, by using more advanced tools, as you agreed, tools which cost LESS than they used to cost. So if the cost of capital is DOWN, and the skills of the workers using those new tools is providing MORE production, why are we compensating them LESS? "It has to do with the fact that a total dollar amount increase in capital expenditure has created a disproportionate increase in GDP and total production" Right. They spend less on capital and GDP went up by more. They literally returned more money per dollar spent. Now what made the difference between those two stats? Oh right, labour. "one that is present in YOUR cited total productivity figure from BLS and which you erroneously attributed all to labor when you claimed labor wasn’t being compensated for its portion of total productivity." Name a single thing that can be produced without labour. I mean you are literally arguing with the definition of labour production at this point, yet cannot name a single reason why we would not consider labour when talking about production.
    1
  214.  @ExPwner  So many wrong things in this analogy. Why you even chose a number not divisible by 3 is already baffling, but then arguing that things within the basket are worth X amount that doesn't even correlate to the actual value of the items is mind-blowing. I mean seriously, if we take your analogy and actually figure out the values of apples and oranges, it makes absolutely no sense with your claim of $3.33 or $4. Neither of those numbers are correct. 3X + 3Y = 10 3X + 5Y = 20 2Y = 10 Y = 5 X = -1.667 I mean seriously, what were you thinking? And again, as we have already proven, there are less oranges, not more. Capital injections are smaller when compared to productivity, not larger. The only way your analogy would work is if you replaced the oranges for some new type of orange that sells for more. Of course that new orange would have to be grown and harvested on your own land while requiring zero change in farming practices. And the addition of more of this product to the market would effect the price. And then you have to account for other farms not doing the same, since they are also selling oranges and their change to how they grow them, the yield they produce et cetera would effect your prices. Then this new crop has to be purchased from somewhere else. Plus you have the lead time on the trees growing, they take years to mature. ...... My point is that you are really oversimplifying literally the entire economy into a discussion about apples and oranges, and really not understanding that we are talking about tools used by labour, not apples and oranges. In fact, in your analogy there would be LESS organges, as the capital investment per unit of production has gone down, meaning we are spending less on oranges but seeing more output from the remaining labour. Meaning the value of apples has increased as labour is more valuable when it can produce more value. But how about this. If you argument is correct, then why do companies pay workers more money, and not just pay them the same compensation they had in 1970?
    1
  215. 1
  216. 1
  217. 1
  218. 1
  219. 1
  220. 1
  221. 1
  222. 1
  223. 1
  224. 1
  225. 1
  226. 1
  227. 1
  228. 1
  229. 1
  230. 1
  231. 1
  232. 1
  233. 1
  234. 1
  235. 1
  236. 1
  237. 1
  238. 1
  239. 1
  240. 1
  241. 1
  242. 1
  243. 1
  244. 1
  245. 1
  246. 1
  247. 1
  248. ​ @ExPwner  Actually I'm trying to help you understand the relationship between worker compensation and GDP. On a microeconomic level you can sit and argue that if we pay workers less as a proportion of what they produce then the economy can keep growing. The issue however is that the main driving force of GDP is labour using their earnings to then purchase things. The productivity is literally a measure of how much revenue companies are making by selling goods and services, and the labour compensation is a measure of how much money the labour force has to spend on those goods and services. As a result people used to save 12% of their income, but that number has halved to just 6%. Incomes are not keeping up with cost of living leaving people left worse off than they were 50 years ago. As labour gets squeezed they home ownership rates are dropping among those too young to join the market when it was cheap. And this is without even addressing other issues, such as an increase in items produced causing a drop in price, meaning produced items and production are not a 1:1, as I explained earlier. This is why we use compensation and capital contributions as a percentage of total GDP, not as standalone figures. You could use a standalone figure to argue that wages have increased or that capital contributions are up, but the point is that they have not increased as much as revenue, and revenue largely comes from labour spending their earnings, and is a key indicator of issues like wealth inequality. The same is true for capital purchases as well, with reinvestment percentages actually being lower than in 1970. So I hope you at least attempt to learn something rather than spitting vitriol like you usually do. I found it amusing you talked about ad homimem attacks, when you used some variation of the word "dumb" in about 25 separate comments in this thread alone. Peace James. I'm sure we'll chat again.
    1
  249. 1
  250. 1
  251. 1
  252. 1
  253. 1
  254. 1
  255. 1
  256. 1
  257. 1
  258. 1
  259. 1
  260. 1
  261. 1
  262. 1
  263. 1
  264.  @willnitschke  "And humans owned slaves for hundreds of thousands of years. Why didn't the Roman Empire stop slavery?" Public opinion. The British ended the slave trade because in 1792 every single county in England, Scotland and Wales presented parliamentary petitions to stop the trade. It was then outlawed in 1807. Further political pressure from abolitionists pushed the ownership of slaves to be outlawed in 1834, and as a result the British government took out a loan so large it took until 2015 to pay off. Absolutely no part of the British abolition of slavery financially benefited them, and was driven entirely by massive political pressure from the general public. The same is true for the US. The abolition movement gained huge popularity and drove the federal government to outlawing the practice. This drove the nation further apart and eventually lead to the civil war. Now imagine trying to argue that the US civil war, a war that killed around 800,000 working age American men, 2% of the total population, was a financially benefitial. A war that added billions to the national debt. The truth is that capitalism and slavery are not only compatible, but even flourish together. Any industry that benefits heavily off low income long-term stable workers, such as farmers, servants, factory workers et cetera, benefit massively off slavery. Even to this day endentured servants continue to thrive in a black market of enslavement. What stops this horrific practice? Government every single time. If you don't ban it Capitalists will do it, because profit is more important than people. So again, what ended slavery? Democracy.
    1
  265. 1
  266. 1
  267. 1
  268. 1
  269. 1
  270. 1
  271. 1
  272. 1
  273. 1
  274. 1
  275. 1
  276. 1
  277. 1
  278. 1
  279. 1
  280. 1
  281. 1
  282. 1
  283. 1
  284. 1
  285. 1
  286. 1
  287. 1
  288. 1
  289. 1
  290. 1
  291. 1
  292. 1
  293. 1