-
Determinism does not mean that humans don't make choices. It means that all natural system, including humans evolve (non-periodically change moving forward in time from some perspective) according to equations of motion and every one effect results from some cause. There is no such thing as effect without cause. Brains are open dissipative natural
-
@gotlucky "I agree that this is false. There can be a net increase of physical wealth even if some people lose wealth." Nope. Incorrect. Preferences are ________ (fill in the blank). Answer: ordinal. Can you add or subtract non-quantitative elements? Show me, if you think you can. Welfare of a group only increases if everyone gains or some
-
Neodoxy, review what "cost" of something is. Pain of regret of next best foregone opportunity in order to get that something. Reflect on this in the case of A, B, and C. P.S. You're not an economist by chance? In my intermediate micro and advance micro classes (which were actually not bad although neoclassical), just about everyone (except
-
Hint to Neodoxy: In myhumangetsme's case, there is no next best foregone opportunity, and so no cost to C, too, ... hence ... Answer: Pareto Improvement
-
@ Neodoxy In less rigorous words: A and B trade, they both gain. C wanted A to trade with him or her, but that is foregone due to existence of B. You say C has extra cost by A NOT trading with him or her. That is not true. Because C must use violence to get A to trade with C. Now, you say, welfare has decreased (because C gains at expense of B and partly
-
People who want to produce things other people don't want to buy are not hurt by those other consumers buying other things they actually want and thus not trading with them. Those other people have done nothing to them physically. They have merely not associated with them. They forego the pleasure from the goods gotten in trade they could have made
-
@ Neodoxy. Revisit what exchange is. A and B hold X and Y. A gives X to B. B gives Y to A. A is happier and so is B, otherwise they wouldn't do it. Nothing else changed. Want-satisfaction in the entire nation increased with certainty. Nothing is being taken away. They already have these quantities of things. There, the condition is satisfied. It's
-
The story about a brave adventurer whose name was K. Consumers don't want MORE apples, having that amount they hold now. They want MORE LCD screens. The boom, by credit expansion and non-symmetric flows of money and money substitutes caused more apples to be produced, which is how the situtation is now where it is: credit expansion stopped and thats
-
@Buzz & Consumariat Stability may be gained by smoothing out production by increasing demand for windows by breaking them; but that whole line of production is contrary to preferences of consumers in the first place. To stabilize and make it continuation predictable, through use of force to redistribute spending, some line of production in order
-
@Neodoxy You've just joined Buzz in the realm of economic ignorance and obtained citizenship there. Congratulations. How do you increase number of wants satisfied without decreasing any wants. Hint. Double benefit to voluntary exchange. Condillac, Gossen, Jevons, Menger ... The goods don't physically change but by virtue of different preferences