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Re:Billionaires Build by api on Friday December 04, 2020 @03:42PM (#25307630)
Who would allocate resources better?
Re:Billionaires Build by oblio on Friday December 04, 2020 @03:57PM (#25307837)
Better than not trying to reallocate them at all? Anything, really :-)

Even a crappy government, which is widely known to be one of the least efficient ways to manage anything.

What's the percentage of multi millionaires or billionaires that are involved in effective, life changing philanthropy for large swaths of people?

Re:Billionaires Build by chillwaves on Friday December 04, 2020 @03:56PM (#25307822)
The government, controlled by the people.
Re:Billionaires Build by themacguffinman on Friday December 04, 2020 @09:34PM (#25311136)
If the government or any similar bureaucracy could actually allocate resources better, we wouldn't have so many failed planned economies and not a single successful example compared to capitalist economies.
Re:Billionaires Build by jrsala on Friday December 04, 2020 @11:24PM (#25311733)
This is a false dichotomy. GP did not suggest a planned economy as a solution, and more generally a planned economy is not the only alternative to wanton capitalism where government rather has more control over resources.
Re:Billionaires Build by ajmadesc on Friday December 04, 2020 @06:33PM (#25309759)
The problem is finding a way to implement a government controlled by the people. I respect the optimism though
Re:Billionaires Build by chillwaves on Friday December 04, 2020 @09:25PM (#25311071)
It's a lot more difficult to do with billionaires around, especially the ones appointed to cabinet level positions in government.
Re:Billionaires Build by ajmadesc on Friday December 04, 2020 @06:08PM (#25309546)
Well, maybe you could have an extremely large group of people independently allocate that capital to firms who they believe could provide them with utility immediately, rather than having it inflate the cost of capital?
Re:Billionaires Build by 8note on Friday December 04, 2020 @06:57PM (#25309992)
What do you mean by better?
Re:Billionaires Build by claudeganon on Friday December 04, 2020 @04:38PM (#25308433)
The Chinese government is a horrible, authoritarian nightmare, but still somehow does better at managing the country's resources than the American ruling class. The pandemic, now over in China, while our nurses tape garbage bags to themselves as thousands die daily, has proven that definitively.
Re:Billionaires Build by sumedh on Friday December 04, 2020 @07:06PM (#25310078)
Australia and NZ are dont have an authoritarian govt but still managed to get the pandemic under control.
Re:Billionaires Build by riggernetard on Saturday December 05, 2020 @09:04PM (#25320347)
> Australia and NZ are dont have an authoritarian govt

a lot of people would disagree here, see the (correct, based) coup of the aus govt over the judiciary allowing them to at will deport migrants, or the controls on going outside in australia

Re:Billionaires Build by claudeganon on Friday December 04, 2020 @07:18PM (#25310189)
Yes? The U.S. did worse than them too.
Re:Billionaires Build by sumedh on Friday December 04, 2020 @07:23PM (#25310239)
So you dont need an authoritarian govt to bring it under control. You just need a govt and a population who will listen to scientists and experts.
Re:Billionaires Build by api on Friday December 04, 2020 @04:44PM (#25308514)
The pandemic happened to hit while we had a particularly idiotic populist demagogue in the White House, but even if we'd had someone more competent I still agree that China would have done better. Assuming you believe their numbers, China seems to be doing better than most of the world.

I chalk up China's governmental competence to the number of scientists and engineers involved in their government. It may be authoritarian and a bit of a nightmare, but unlike the majority of other governments in the world you have a few decision makers in there who have some clue how the world actually works. Most other government are run by lawyers, career bureaucrats, delusional ideologues, or leaders who inherited their position either officially via some line of succession or de-facto via institutional nepotism.

There are some of all those categories in China's government, but there are also apparently enough people who actually know how to do things in the real world.

Re:Billionaires Build by tartoran on Friday December 04, 2020 @05:16PM (#25308960)
https://news.ycombinator.com/item?id=25304738

This might be a relevant story I read today on China.

Re:Billionaires Build by cwkoss on Friday December 04, 2020 @07:09PM (#25310106)
Plenty of our democratic leaders have made idiotic self-serving decisions concerning the pandemic too (I'm looking at you, Nancy Pelosi)
Re:Billionaires Build by jessaustin on Friday December 04, 2020 @07:50PM (#25310447)
I don't think she's ever been a scientist or engineer?
Re:Billionaires Build by claudeganon on Friday December 04, 2020 @04:50PM (#25308593)
Right, I was just responding to the question, whose posing is often used to suggest that the US is the best of all possible resource allocation worlds. I don't want to live under a regime like the CCP, but we did just run this experiment and the U.S. system of resource allocation failed miserably.
Re:Billionaires Build by api on Friday December 04, 2020 @05:01PM (#25308747)
I don't think it's the best of all possible worlds, but it is better than some.

Only a small percentage of billionaires do incredibly valuable things, but those who do are doing things that I can't imagine the US government of today ever doing. The US government would be having meetings to schedule the meeting to discuss the meeting schedule, or fighting over culture war issues.

Re:Billionaires Build by ajmadesc on Friday December 04, 2020 @06:41PM (#25309818)
You don't think that the culture war issues are manufactured to distract the masses from endless war, tax cuts, corporate subsidies, etc?

I think that the government has been sabotaged. Intentionally impairing it's functions to justify the critiques of functionally.

"I want to make the government small enough to drown in a tub"

"Government doesn't work, elect me and I'll prove it"(that one's a joke but conveys the point)

Re:Billionaires Build by 8note on Friday December 04, 2020 @06:56PM (#25309980)
Theres not that many billionaires, so I'm not sure how relevant percentages of billionaires is
Re:Billionaires Build by jacobush on Friday December 04, 2020 @05:05PM (#25308814)
We need to remember they allocate resources horribly in other places though. Genocide is going there, forced abortion and sterilisation of entire populations.