The Economy Web: Understanding Capitalism

[Malachi151]

http://www.rationalrevolution.net/articles/economy_web.htm

I'm sure that many would have comments.

 

[shanek]

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:

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]

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.