4 ms·
There's no "consumer class". Every person is a consumer, including those who are entrepreneurial. Being entrepreneurial simply means you are in charge of what g
by zeroname 8y ago
There's no "consumer class". Every person is a consumer, including those who are entrepreneurial. Being entrepreneurial simply means you are in charge of what gets produced. The market then decides whether what you are producing is actually needed. If it isn't, you go out of business. Resources get re-allocated.
The efficiency of this process is the whole argument on why capitalism is superior to other systems.
Subsidies and other special favors distort this process, to the point of overproducing things that are not needed and underproducing things that are. The danger I see is that UBI is exactly such a subsidy.
- rskar 8y agohttps://financial-dictionary.thefreedictionary.com/Consumer+Class https://financial-dictionary.thefreedictionary.com/Consumer+... "The class of persons able to buy goods and services other than those that satisfy their basic needs. ..."
- zeroname 8y agoThat doesn't seem like a common term and I'm not sure that's what the parent was referring to. Either way, my argument stands.