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Politics : Stockman Scott's Political Debate Porch
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To: Hawkmoon who wrote (87629)4/25/2012 1:43:56 PM
From: Cautious_Optimist1 Recommendation  Read Replies (5) of 89467
 
It has been figured out by modern economists that "supply and demand" is a useful determinant of "price" but not "value." You can put a price on anything... slavery, virginity, even murder.

Along with the market movements away from competition toward economy-killing oligopollies and (imperfect) monopolies, along with the ability to externalize capital and human costs through politics, lobbyists and even public propaganda, the western world has developed in response what has come to be known as mixed economies. It sucks sometimes, but it beats the alternatives.

I am amazed how people educated before the 1990's see supply-and-demand as "laws" of physics like gravity or motion. And "markets" as guided by perfect natural laws. Taint Truth no mo'.
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