The Truth About Playing Poker For a Living

[tek]

Overgrown overpaid mutant dumbas men playing "pro" sports does not benefit society in the least, but where are the threads about this?

In a supposedly "free" country (let's save the argument about that for the politics forum...) why is it anyone's business what someone does as long as it's not subject to incarceration?

At a family dinner years ago, one of my cousin's wife said that my stock trading doesn't benefit society. I haven't talked to her since.

[Bigwig]

I don't know about quoting Hyman Roth and all. But most of your points are correct. Capitalism, BTW, isn't a system. It's the lack of a system.

[Rushmore]

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It was an interesting observation and nothing more.

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Which is exactly as I took it. Responding does not equate to invalidating.

My point is simply that this is the way the world is. Smith's "magic hand" has little relevance; if 99.9% of "capitalist America" is contributing to "society" (whatever that means), then that doesn't make it right or good.

What if society is intrinsically evil? Then contributing to it would be evil as well, right?

I'm not saying these things are true, I'm saying I don't care, because the world is as the world is, and I cannot change it. I need money to live, and I need to answer to myself from an ethical standpoint.

Achieving some balance here is all I can attempt to do. If I do not buy into the notion that poker, for instance, is "bad for society," I can not pretend to do so.

If we were talking about murder, on the other hand, it would be a different story. While an argument could be made that there are definite parallels, that is an argument for another forum.

[Rushmore]

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I don't know about quoting Hyman Roth and all. But most of your points are correct. Capitalism, BTW, isn't a system. It's the lack of a system.

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The quotes are for simple reference. I think they are relevant.

As for capitalism being a lack of a system, my tiny mind cannot comprehend that sort of tautology. It's more a semantic argument that anything, and rhetoric isn't my strong suit.

[benfranklin]

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Capitalism, BTW, isn't a system. It's the lack of a system.

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Capitalism is an economic and political system that allows and rewards private ownership of the means of production, and allows individuals to make their own economic decisions, for better or worse.

[Triumph36]

But pro sports do benefit society. People are entertained. In a capitalist system, value is determined not by the product itself, but by what the market is willing to pay for it. Intrinsic value or 'benefit' is based on outdated judgements.

Professional poker players produce nothing of value, so they are not a factor in this discussion. And yes, in a perfect place, it is not anyone's 'business' how one earns their money, but we're not there and never will be.. the sentiment that 'it's not me that's wrong, it's society' is a wonderful catch-all justification.

[Bigwig]

[ QUOTE ]
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Capitalism, BTW, isn't a system. It's the lack of a system.

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Capitalism is an economic and political system that allows and rewards private ownership of the means of production, and allows individuals to make their own economic decisions, for better or worse.

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Capitalism. An economic concept of civilization that is based on the private ownership (and control) of the means of production. Such an institutional situation permits and inevitably encourages the division of labor, economic calculation, capital accumulation, technological improvement and the voluntary social cooperation of a market economy in which mass production is designed for the consumption of the sovereign masses. Capitalism is the antithesis of statism, socialism and communism which are based on government ownership (or control) of the means of production.


Note: Concept of civilization. Not political. Antithesis of statism. States run systems. Free markets do not.

I suggest to put down the Keynesian loaded college texts. [img]/images/graemlins/tongue.gif[/img]

[benfranklin]

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Capitalism, BTW, isn't a system. It's the lack of a system.

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Concept of civilization. Not political. Antithesis of statism. States run systems. Free markets do not.

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Oxford English Dictionary:

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capitalism

• noun an economic and political system in which a country’s trade and industry are controlled by private owners for profit, rather than by the state.

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Cambridge International Dictionary of English:

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capitalism
noun [U]
an economic, political and social system based on private ownership of property, business and industry, and directed towards making the greatest possible profits for successful organizations and people
Compare communism; socialism.

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American Heritage Dictionary:

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system NOUN A social, economic, or political organizational form.

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[tomdemaine]

Deepest WPT thread ever! So don't you guys reckon Phill Hellmuth is a jerk [img]/images/graemlins/smile.gif[/img]

[PITTM]

ayn rand should seriously be the last person anyone ever quotes. shouldnt you have some redeeming qualities to be quoted?

rj