The Economy Web: Understanding Capitalism

Malachi151 · 20th November 2003, 05:53 PM

http://www.rationalrevolution.net/ar...conomy_web.htm

I'm sure that many would have comments.

shanek · 20th November 2003, 06:20 PM

Why don't you go read the Macroeconomics thread? If you did, then you'd know that capital is not the only component of production, you'd know the difference between real and nominal value, you'd know the true contribution of labor to value, why claims like "owners of capital are the ones who realize all of that value" are bull$#!7, and pretty much realize that this entire paper is bunk which is easily contradicted by anyone with a modicum of knowledge about economics.

Oh, and by the way:

Quote:

When I choose to pickup trash on the sidewalk I am doing work that has an economic result. The neighborhood, be it a business district or residential, is having its property value maintained, restored, or increased. We all know this. People would rather shop in a clean nice place. So in an area that is well-kept business owners are going to be able to get higher prices for their goods and services than in an area that looks like a dump.

Awhile ago you flamed me for saying that mowing your lawn created wealth. Why does that not create wealth but picking up trash does?

Grammatron · 21st November 2003, 01:01 PM

Quote:

Originally posted by shanek
Awhile ago you flamed me for saying that mowing your lawn created wealth. Why does that not create wealth but picking up trash does?

I just wanted to bump this thread up since Malachi argued that for quite some time -- almost a month I believe -- and I'm just curious what changed his position and in turn agree with shanek.

20th November 2003, 05:53 PM	#1
Malachi151 Graduate Poster Join Date: May 2003 Posts: 1,405	The Economy Web: Understanding Capitalism http://www.rationalrevolution.net/ar...conomy_web.htm I'm sure that many would have comments.
	__________________ www.rationalrevolution.net "The welfare of each of us is dependent fundamentally upon the welfare of all of us." - Teddy Roosevelt

20th November 2003, 06:20 PM	#2
shanek by Charles M. Schulz Join Date: Aug 2001 Posts: 15,990	Why don't you go read the Macroeconomics thread? If you did, then you'd know that capital is not the only component of production, you'd know the difference between real and nominal value, you'd know the true contribution of labor to value, why claims like "owners of capital are the ones who realize all of that value" are bull$#!7, and pretty much realize that this entire paper is bunk which is easily contradicted by anyone with a modicum of knowledge about economics. Oh, and by the way: Quote: When I choose to pickup trash on the sidewalk I am doing work that has an economic result. The neighborhood, be it a business district or residential, is having its property value maintained, restored, or increased. We all know this. People would rather shop in a clean nice place. So in an area that is well-kept business owners are going to be able to get higher prices for their goods and services than in an area that looks like a dump. Awhile ago you flamed me for saying that mowing your lawn created wealth. Why does that not create wealth but picking up trash does?
	__________________ "James Randi is awesome!" —Ian Bernard, primary host of Free Talk Live "It really does take people like Penn & Teller or James Randi to be able to see through these deceptions, and so those are perhaps the people we should be paying the most attention to." —Harry Browne, 4/10/2004 I know there is a lesson to be learned here somewhere, but I don't know what it is.

21st November 2003, 01:01 PM	#3
Grammatron Philosopher Join Date: Jul 2003 Posts: 5,446	Quote: Originally posted by shanek Awhile ago you flamed me for saying that mowing your lawn created wealth. Why does that not create wealth but picking up trash does? I just wanted to bump this thread up since Malachi argued that for quite some time -- almost a month I believe -- and I'm just curious what changed his position and in turn agree with shanek.
Grammatron Philosopher Join Date: Jul 2003 Posts: 5,446