Originally posted by Whaleboy
Firstly, a nominal balance of supply and demand will never occur for the above reasons (we would always strive for more, any equilibrium is broken by increasing demand) and secondly where value is a coefficient of supply and demand it doesn't simply cease to exist. As long as there is finite supply, there will always be value (since demand is relevant). If a star trek-like situation develops with replicators making anything and everything at whim, then capitalism will not be relevant to our nature. But I, and Werner Heisenberg, can't see that happening any time soon.
Firstly, a nominal balance of supply and demand will never occur for the above reasons (we would always strive for more, any equilibrium is broken by increasing demand) and secondly where value is a coefficient of supply and demand it doesn't simply cease to exist. As long as there is finite supply, there will always be value (since demand is relevant). If a star trek-like situation develops with replicators making anything and everything at whim, then capitalism will not be relevant to our nature. But I, and Werner Heisenberg, can't see that happening any time soon.
I'd be very amused to see you attempt to base an economy on that. Do you think a society will be healthy where there is equal numbers (and equal pay (motivation)) of builders and labourers to surgeons?
Communistic elements are a contextual consequence of capitalism, in other words in certain situations it is prudent to the individual to work with others, either for survival or toward economic ends, for example, factory labour utilises communist principles but capitalism is the end and (through the self-interest of the workers and their salary) the means.
So wages are proportional to demand, and inversely proportional to supply in the labour market? Thanks!
If there is competition for resources, hence a current of supply to demand, then capitalism has existed. You people have a very institutionalised feudal view of capitalism. You know the definition need not be solely applicable to men labouring in a factory in the 19th century being inexorably put out of work by the application of steam . You (Che and Kid) are capable of thinking far more cogently than that, enough to work with definitions and not familials.
Comment