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Wouldn't technological development also need to be static in this scenario, as well? It sounds like you're describing a completely static economy. The money s
by Gormo 16y ago
Wouldn't technological development also need to be static in this scenario, as well?
It sounds like you're describing a completely static economy. The money supply doesn't change; the market doesn't expand or shrink; the utility value of goods doesn't improve. Has such an economy ever existed?
- zeteo 16y agoMy point is that, even in such a theoretical and apparently stagnant economy, wealth is still accumulated and economics is very far from a zero-sum game.