The Inmendham Archive

Economics

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Title

Economics

Description

Notes:

Economics

work can have two qualities ... productive or wasted.

productive work usually creates durable value... wasted work, creates little or no social value and is of minimal durability. Some work can also be socially destructive and worse than waste.

Wealth does not create jobs, it just converts resources into surplus. Demand creates jobs by incentivizing the provision of supply.

The basic function of industry needs no owner to maximize efficiency ... to be maximized, efficiency must incorporate qualitative components (long-term impact, environmental costs, quality of life costs (fair worker compensation), infrastructure costs, etc.)

Inheritance

plainly unearned distribution of the value produced by work.

creates permanent resource inflation ... as the resources converted into surplus will have to be rented (at interest) into public utility.

Keeps resources off the public market which inflates prices.

provides no socially useful incentives (no incentive to do productive work) ...and creates opportunity for squander.

makes ownership perpetual, and in turn makes ownership more profitable than productive work

The "invisible hand" is nothing but a thief if it is filling something other than a working person's pocket.

productive workers pay everyone else's salary

the public option

publicly seeded not-for-profit industry

no owner industry

coalition of consumers and workers should define management

caps on minimum and maximum compensation

capitalism is greed economics... The self-interest is seldom in the social interest

Source

http://inmendham.com/vd/1275.html

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