Comment on Yen starts to appreciate again – as you were! by Philip Lawn

The useful part

Some people will say that if people enjoy economic rents, that's their good luck. If that's what some people believe is an acceptable and justifiable outcome of loosely regulated markets, they are entitled to that opinion. They can't then say that organising a nation around unfettered markets is the best way for a nation to create real wealth.

How it works

• Because it clearly doesn't and won't if people are incentivised to seek and retain economic rents.
• Then these clowns have to explain why a system that is not best at creating real wealth is justified.
• If they repeat that it's just the "luck of a market econony" they haven't much solid ground to stand on, which they don't.
• They'll then resort to "that's nature's way" or "then you are suggesting that some sort of collective intervention is better and that implies socialism, and I won't tolerate socialism".
• I was in the USA once when an American had a dig at me after I said that Australia had a universal health care system and that America could have one too, if it wants it.

What to take from it

The person replied, "but that's socialism!" I said he could call it what he likes but I'd have Australia's health care system before that of the USA any day of the week, especially when the average life expectancy of Australians is close to five years higher than that of Americans.