Thursday, March 27, 2014

Economy

More and more people are arguing we live in a post-scarcity world. We don't.
"Understand something at the very beginning: to say that something is “no longer subject to market forces” is to say that the good in question is non-scarce, or free. That means that every (or nearly every) factor used in producing that good also is non-scarce, and that the full costs to the consumers using such goods also are zero. All I can say is that this contention is an absurdity. "
Yes it is.
"It is true that the advent of low marginal costs has forced new ways of retailing, but economic progress always has done that. For example, a generation ago, Wal-Mart was able to seize huge chunks of market share because the company had developed a distribution and retail strategy that made it a much lower-cost producer than were the other retailers, including Sears, J.C. Penny, and K-Mart. That does not mean markets have disappeared or are no longer relevant; likewise, Wal-Mart now finds itself under pressure from other retailers as well as the internet. Markets still prevail, but in different forms. "
But the people in power and at the top of the economic ladder want to be there forever, so they hate change, and they use government to keep things from changing.

Millionaires are congregating to escape taxes and wealth confiscation.

Even USA Today points out bad signs for the stock market.

Impact of economic freedom on income inequality.

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