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Value and efficiency can disappear though. I could spend 100 dollars on something that falls apart in a month, or spend 1000 for a functionally equivalently som
by trophycase 11y ago
Value and efficiency can disappear though. I could spend 100 dollars on something that falls apart in a month, or spend 1000 for a functionally equivalently something that will last 3 generations. One of these choices is wasteful and hurts economic efficiency, one isn't.
- alanwatts 11y agoOne is based on the broken window fallacy assumption, one isn't.
- themartorana 11y agoWell, if the money was to be spent. Half our problem is the extra cash moving towards the 1% is held, not spent, not circulated.
- alanwatts 11y agoWhat is the other half?
- themartorana 11y agoSpeculative (and unregulated) financial dealings by banks with your cash, leading to ruinous effects on the global economy, ruining much of the middle class in the process?
- alanwatts 11y agoSo it would seem. But I see a root cause for both of these: the centralized pyramid user hierarchy which is inherent in any paper based information system. "It is part of the age-old habit of using new means for old purposes instead of discovering what are the new goals contained in the new means."