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Free Market Capitalism FAILS again

The trap is sprung. Sorry, Lee, but it won’t be that easy for you.

WHY LEE’S CHARACTERIZATION OF MY VIDEO IS A STRAWMAN

1. I am a capitalist. I am merely not a free market capitalist. I believe in regulation.
2. I never said that capitalism and trade don’t create wealth. I merely had the courage to point out that fraud and exploitation are a crucial element of the money-making process.
3. I never said that it should be mandated that companies share their profits with employees, I merely hypothesized that this was the natural philosophical result of the statement below.

WHY FREE MARKET IS FREE MARXIST:

Free Market Capitalism says we own our own labor:
http://www.econlib.org/library/Enc/FreeMarket.html
“. . . in a free-market system, every person has a property right over his own person and his own labor and can make free contracts for those services.”
Murray Rothbard,
Free Market Capitalist
Sometimes referred to as “the founder of libertarianism”

THE THREE TYPES OF VALUE:

1. Objective Value/Baseline Value/Intrinsic Value
Value based on “need” in relation to the achievement of sustained physical and psychological health.

2. Subjective Value
Value based on individual perception of value; personal perceptions of value not shared by others (or shared by a select few).

3. Intersubjective Value
Value based on group perception of value; mass perception of value.

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