Erstwhile Senator

Former Minnesota State Senator and candidate for governor. Transplanted to Dixie.

[Erstwhile Senator @ThompsonSenate]

@KihneSheila @AppyOrtho You are correct about the heat. I wear dresses more often now that I live in the South.

[Erstwhile Senator @ThompsonSenate]

@SalvatoBert @GlockfordFiles Yup. I must be with you 100% or I’m excommunicated from the conservative cause. You are ridiculous.

[Erstwhile Senator @ThompsonSenate]

@SteveThomsonMN @JoshACarpenter Is it greed when you pursue your economic self-interest? Or does that just apply to others?

[Erstwhile Senator @ThompsonSenate]

@5289davhas @Kimdonghyu93321 AI (Not AL).

[Erstwhile Senator @ThompsonSenate]

@LexiMPLS @ABC Because they want to bring something back that normal people actually want to eat. Pretty much eliminates salads. Besides, salads are not classic McDonald's. When they were slingin' apple pies, fast food places weren't worried about health. This used to be such a great country!

[Hans Mahncke @HansMahncke]

This is spot on. Zuckerberg did not just help Biden become president in the conventional way by pouring money into his campaign. He did something far worse, with effects that may have permanently changed American elections. He funneled half a billion dollars into election offices to expand mail in voting and ballot drop boxes, concentrating that money overwhelmingly in Democratic strongholds.

[Erstwhile Senator @ThompsonSenate]

@FrankNeuville @DebsSweet Writing stiles tend to evolve over 250 years.

His points were clear and simple. Wealth is created and standards of living increased through free markets and trade. Specialization enhances efficiency. Pursuit of self interest benefits everyone within a free market structure.

[Erstwhile Senator @ThompsonSenate]

@GlowSurfing Because not all movies are included in the monthly fee. Is that complicated?

[Erstwhile Senator @ThompsonSenate]

@FrankNeuville @DebsSweet Yup. And our learning and thinking have validated the vast majority of what Smith taught.

[Erstwhile Senator @ThompsonSenate]

@GrageDustin What is the source of this poll?

[Erstwhile Senator @ThompsonSenate]

@FrankNeuville @DebsSweet When you go goofy I stop the conversation.

[Erstwhile Senator @ThompsonSenate]

@FrankNeuville @DebsSweet I'll leave you with this quote from Adam Smith's "Wealth of Nations."

"It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest."

[Erstwhile Senator @ThompsonSenate]

@FrankNeuville @DebsSweet That is a false choice. An efficient economic system is the most fair because an efficient economic system allocates resources based upon value provided. Nothing can be more fair than that.

Sorry to say, I can't continue this Econ lesson. I have to go purse my self-interest.

[Erstwhile Senator @ThompsonSenate]

@FrankNeuville @DebsSweet No, that is not market failure. Market failure occurs when the market fails to allocate resources efficiently, so there is a need to intervene. For example, public goods. Public goods are things that benefit all equally, without an efficient payment mechanism.

[Erstwhile Senator @ThompsonSenate]

@FrankNeuville @DebsSweet You make this more complicated than necessary.

1. Implement a fair & efficient economic system. History teaches that a free market economy with minimal government interference is the best.

2. Within that system, people pursue their self-interest and are paid based upon value.

[Erstwhile Senator @ThompsonSenate]

@FrankNeuville @DebsSweet Don’t do that, Frank! If you gain an understanding of basic economics it will be impossible to maintain your identify as a liberal. 😁

All kidding aside, if more people had a basic economics education, we would all be better off.

[Erstwhile Senator @ThompsonSenate]

@FrankNeuville @DebsSweet Yes. Economic decision-making is amoral. We have a legal system that keeps self interest from going off the rails. We make some laws to address what economists call “market failure.” But day to day economic decisions are . . . economic decisions, not moral pronouncements.

[Erstwhile Senator @ThompsonSenate]

@FrankNeuville @DebsSweet If I understand your point correctly, you are right. There can be values that trump (pardon the pun) economic considerations. For example, national security.

That does not take away from the general idea that the best economic system is the one that rewards productivity.

[Erstwhile Senator @ThompsonSenate]

@FrankNeuville @DebsSweet The pothole guy is. However, any healthy male of working age can fill potholes. Allstar athletes are exceedingly rare. Rare (scarce) things are worth more.

You seem to think compensation should be based on some value based, moral judgment. That is irrelevant to economic value.

[Erstwhile Senator @ThompsonSenate]

@FrankNeuville @DebsSweet Political decisions are supposed to be made based on what is best for the country. The point of an economy is to maximize productivity and improve standards of living.

Beer sales are part of it. People spend money to watch the shortstop. That $ pays salaries to lots of people.