We equated, in a prior post, ends with demand. Means we equate with supply. This post is going to be practical in nature. In that sense I depart from the apriori nature of the inquiry. But, there is something approaching necessity in the following considerations. There was a time when communities were limited to what …
Continue reading “3.4.5, Means as Supply, and Capital Formation”
It is an interesting question as to what those who want progress think its possibility lies in, what its conditions are. Stated briefly, the economic crisis of 1920-21 was overcome with much greater speed than the economic crisis of 1929. What was the difference? The role of government. The speediest way through economic crisis is …
Profit is the signal to the one investing effort and labor that his effort and labor are worth it. Remember, it is entirely possible for both parties to a trade to profit. Both can engage in labor and production and value what they get more than what they give up. This is profit. The very …
Let it be known that the same moment of trade can be seen from the following perspectives legitimately: The employer sells dollars and will take labor as payment. The employee sells labor and will take dollars as payment. The employer buys the labor of the employee with dollars. The employee buys the dollars of the …
