Post
Topic
Board Economics
Re: Tobin Tax. Anyone want to help me build the Tobin Tax website?
by
niemivh
on 08/07/2011, 19:06:02 UTC
Trading pokemon cards shouldn't constitute a contribution to "society".

Two people exchanging Pokeman cards are maximizing their utility, benefiting from the exchange.  This results in a betterment for society as 2 people gained something at the expense of nobody else.


Everybody is not entitled to benefits from a transaction. 

How you figure?  Can you give me an example of two people involved in a 'transaction' in which one (or more) parties do not benefit?  I think theft would be a good example, but can you think of anything else?

I think that an apple looks delicious.  I buy it from a vendor.  He benefits.  Turns out the apple is rotten.  The vendor did not know it.  I do not benefit.

Good example.

Well you are knowingly engaging in a transaction with the vendor so that meets one of my earlier criteria.  But did the vendor know that some of the apples were rotten?  If so this is a clear cut case of the vendor being in the wrong as he would know that some person would eventually get a bad apple.  If he didn't, then why shouldn't have he?  It is his business to know the quality of his product, and it is truly in his better long-term interests to refund you to the money.  But this scenario is hardly analogous to all transactions.