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by simonh 1753 days ago
Profits are customers saying thank you for the value they are getting. So, London is a criminal enterprise that provides no real value, or is parasitic, or at least it's reasonable to compare it to one?

I suspect the root issue here is what we consider to be value, or what activities are valuable and how value is generated. The common critique of capitalism is based (often unknowingly) on the Marxist theory of value which sees the vast majority of economic activities as parasitic of value, particularly financial activities, and if that's the issue here sure I'm quite willing to debate on that.

2 comments

Moving money for ruthless violent people is profitable if done right, but value destroying for society.

Value, whether measured in safety, shelter, nourishment, entertainment, ownership, infrastructure, sense of belonging or whatever you wish, is best built when you can trust the people around you and thus focus your efforts on what is valuable rather than trying to prevent being hurt or robbed.

Note that above I didn’t count money as valuable, since it isn’t intrinsically.

> So, London is a criminal enterprise that provides no real value, or is parasitic, or at least it's reasonable to compare it to one?

As a former Londoner, absolutely yes. London as a city is extremely parasitic, especially when it comes to time and standard of living. It does provide value when you're either so poor or find it so hard to get a job that working there provides you enough value, or you earn such "screw you" money that you can afford to live a comfortable life there. But for anyone outside of those groups, it's best avoided unless you're just visiting for the sights.