Thread: Ronald Reagan
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Old 02-09-2011
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Quote:
Originally Posted by randolph View Post
Tracy

I am not sure what you mean here.
Quote:
Originally Posted by Enoch Root View Post
When she wrote about supply and demand as regards the workers I thought she meant there are fewer people who know how to find oil and more who can drill oil. That because there is less of the one group than the other, the group with fewer members "deserves" to be paid more.
What Enoch said. If you were to buy the services of an oil well crew, and they wanted 50% of the profits, you'd say "no way man. There's plenty of other oil well crews out there that charge a lower flat rate." Because there's a large supply of oil well crews to choose from. If you were to buy the services of a trained professional with a proven track record of finding oil, that's a rare commodity and as such, it's going to cost you.

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Originally Posted by randolph View Post
Financing the well was a risky gamble, it could have been dry and the people who financed lose their investment (stored labor). Capitalism is taking risks and yes the system rewards capitalists for taking risks.
If it went dry, the oil well workers would still get paid. They do not take on the risk. It's the guy who makes all the investments who stands to loose everything.

Quote:
Originally Posted by randolph View Post
In Norway, however, things are very different. The state owns the oil rights and does the drilling and sells the oil. The benefit of this goes to the people of Norway. Everybody has excellent health care in a well run corruption free state free of extremely wealthy corporations buying off and corrupting the legislature.
I know that won't work here in this big country but it's nice to think about. Imagine the wealth there would be in this country if we all owned the oil. There would little or no taxes and we would all be happy, right?
lol to quote Rodney Dangerfield in Back to School, sounds like fantasy land. Why should there be only one type of government on this planet? There are plenty of socialist countries out there. Fine, let them live that fantasy. In this country we're giving capitalism a shot. Many people come to America to live under that kind of system. I presume that some people who aren't gung ho about capitalism could move to one of the many other socialist countries.
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