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	<title>Comments on: Elitism, When Convenient</title>
	<atom:link href="http://cafehayek.com/2009/07/elitism-when-convenient.html/feed" rel="self" type="application/rss+xml" />
	<link>http://cafehayek.com/2009/07/elitism-when-convenient.html</link>
	<description>where orders emerge</description>
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		<title>By: Percocet.</title>
		<link>http://cafehayek.com/2009/07/elitism-when-convenient.html/comment-page-2#comment-55602</link>
		<dc:creator>Percocet.</dc:creator>
		<pubDate>Thu, 13 Aug 2009 01:09:38 +0000</pubDate>
		<guid isPermaLink="false">http://70.32.86.159/2009/07/elitism-when-convenient.html#comment-55602</guid>
		<description>&lt;strong&gt;Percocet and greece....&lt;/strong&gt;

Half life of percocet. Percocet. How do i get off percocet. Percocet and nightmares....</description>
		<content:encoded><![CDATA[<p><strong>Percocet and greece&#8230;.</strong></p>
<p>Half life of percocet. Percocet. How do i get off percocet. Percocet and nightmares&#8230;.</p>
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		<title>By: K Ackermann</title>
		<link>http://cafehayek.com/2009/07/elitism-when-convenient.html/comment-page-1#comment-52515</link>
		<dc:creator>K Ackermann</dc:creator>
		<pubDate>Tue, 30 Nov 1999 07:00:00 +0000</pubDate>
		<guid isPermaLink="false">http://70.32.86.159/2009/07/elitism-when-convenient.html#comment-52515</guid>
		<description>&lt;p&gt;Or anything for that matter.&lt;/p&gt;

&lt;p&gt;Are people qualified to pick their doctor? &lt;/p&gt;

&lt;p&gt;After all, half of all doctors graduated at the bottom half of their class.&lt;br /&gt;
&lt;/p&gt;

</description>
		<content:encoded><![CDATA[<p>Or anything for that matter.</p>
<p>Are people qualified to pick their doctor? </p>
<p>After all, half of all doctors graduated at the bottom half of their class.</p>
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	<item>
		<title>By: SheetWise</title>
		<link>http://cafehayek.com/2009/07/elitism-when-convenient.html/comment-page-1#comment-52516</link>
		<dc:creator>SheetWise</dc:creator>
		<pubDate>Tue, 30 Nov 1999 07:00:00 +0000</pubDate>
		<guid isPermaLink="false">http://70.32.86.159/2009/07/elitism-when-convenient.html#comment-52516</guid>
		<description>&lt;p&gt;&lt;i&gt;Duke: Good, William. Now, some of our clients are speculating that the price of gold will rise in the future. We have other clients who are speculating that the price of gold is going to fall. They&#039;ve placed their orders with us and we buy or sell their gold for them.&lt;/p&gt;

&lt;p&gt;Duke: Tell him the good part.&lt;/p&gt;

&lt;p&gt;Duke: The good part is that no matter whether our clients make money, or lose money, Duke &amp; Duke get the commissions.&lt;br /&gt;
&lt;br /&gt;
Well, what do you think, Valentine?&lt;/p&gt;

&lt;p&gt;&lt;b&gt;Valentine: Sounds to me like you guys are a couple of bookies.&lt;/b&gt;&lt;/i&gt;&lt;/p&gt;

&lt;p&gt;Nah.  We common people couldn&#039;t possibly understand it.&lt;br /&gt;
&lt;/p&gt;

</description>
		<content:encoded><![CDATA[<p><i>Duke: Good, William. Now, some of our clients are speculating that the price of gold will rise in the future. We have other clients who are speculating that the price of gold is going to fall. They&#39;ve placed their orders with us and we buy or sell their gold for them.</i></p>
<p>Duke: Tell him the good part.</p>
<p>Duke: The good part is that no matter whether our clients make money, or lose money, Duke &amp; Duke get the commissions.</p>
<p>Well, what do you think, Valentine?</p>
<p><b>Valentine: Sounds to me like you guys are a couple of bookies.</b></p>
<p>Nah.  We common people couldn&#39;t possibly understand it.</p>
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		<title>By: Bret</title>
		<link>http://cafehayek.com/2009/07/elitism-when-convenient.html/comment-page-1#comment-52517</link>
		<dc:creator>Bret</dc:creator>
		<pubDate>Tue, 30 Nov 1999 07:00:00 +0000</pubDate>
		<guid isPermaLink="false">http://70.32.86.159/2009/07/elitism-when-convenient.html#comment-52517</guid>
		<description>&lt;p&gt;The &quot;Wisdom of Crowds&quot; argument is that as long as at least some voters have a tiny bit of signal to go with the rest of the random noise, the noise cancels out leaving a reasonable decision in aggregate.&lt;/p&gt;

&lt;p&gt;The voters might also invest well in aggregate (and probably even do), but enough might do poorly that it could be argued that somebody ought to protect them from themselves.&lt;/p&gt;

&lt;p&gt;So it&#039;s a single aggregate decision versus individual poor decisions.&lt;/p&gt;

&lt;p&gt;Your buddy Caplan claims that the &quot;noise&quot; isn&#039;t random and that aggregate decision is faulty.  I have two problems with his analysis.  First, he assumes that people want to maximize economic well-being and libertarian style freedom.  My observations tell me that, for the majority, neither of those is even remotely true.  Second, there doesn&#039;t seem to be a path to a better alternative.  The looters won&#039;t go away no matter how much you wish they would.&lt;/p&gt;

</description>
		<content:encoded><![CDATA[<p>The &quot;Wisdom of Crowds&quot; argument is that as long as at least some voters have a tiny bit of signal to go with the rest of the random noise, the noise cancels out leaving a reasonable decision in aggregate.</p>
<p>The voters might also invest well in aggregate (and probably even do), but enough might do poorly that it could be argued that somebody ought to protect them from themselves.</p>
<p>So it&#39;s a single aggregate decision versus individual poor decisions.</p>
<p>Your buddy Caplan claims that the &quot;noise&quot; isn&#39;t random and that aggregate decision is faulty.  I have two problems with his analysis.  First, he assumes that people want to maximize economic well-being and libertarian style freedom.  My observations tell me that, for the majority, neither of those is even remotely true.  Second, there doesn&#39;t seem to be a path to a better alternative.  The looters won&#39;t go away no matter how much you wish they would.</p>
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	<item>
		<title>By: SheetWise</title>
		<link>http://cafehayek.com/2009/07/elitism-when-convenient.html/comment-page-1#comment-52518</link>
		<dc:creator>SheetWise</dc:creator>
		<pubDate>Tue, 30 Nov 1999 07:00:00 +0000</pubDate>
		<guid isPermaLink="false">http://70.32.86.159/2009/07/elitism-when-convenient.html#comment-52518</guid>
		<description>&lt;p&gt;&lt;i&gt;&quot;The looters won&#039;t go away no matter how much you wish they would.&quot;&lt;/i&gt;&lt;/p&gt;

&lt;p&gt;Not if you keep cooperating with them.&lt;/p&gt;

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		<content:encoded><![CDATA[<p><i>&quot;The looters won&#39;t go away no matter how much you wish they would.&quot;</i></p>
<p>Not if you keep cooperating with them.</p>
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