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No, the world's people are not what has the input- the world's money does. Very different. Money does not think or feel, it's just a measure of power. Money
by fallingfrog 4y ago
No, the world's people are not what has the input- the world's money does. Very different. Money does not think or feel, it's just a measure of power. Money is power. If you think money should purely decide this question you are in effect saying "whoever is the most powerful gets what they want", which is anti-civilization. Markets only function at all because powerful governments moderate and regulate them. Otherwise the world would quickly decay into a hobbsian war of all against all. Unregulated markets always self-destruct. Rationing on one level or another is the only reason that markets in limited areas are even possible. Try having markets without "rationing" who can print money, for example.
- WalterBright 4y ago> Unregulated markets always self-destruct. I hadn't noticed the US self-destructing. Maybe I read the wrong history books?
- fallingfrog 4y agoBecause our markets are tightly regulated. And where they aren’t you get things like the financial crisis.
- RhysU 4y agoRegulations certainly play a large and important role in creating and sustaining well-functioning markets. No argument there.
- WalterBright 4y agoDepends on the kind of regulations. Wage and price controls, for example, do not create well-functioning markets. Quite the opposite.
- RhysU 4y agoAgreed. Anti-spoofing, trade reporting, etc are the ones I mean.
- WalterBright 4y agoYou speak as if communist economies don't have financial crises. Yet they do. And our recent inflation - great job, government!
- nradov 4y agoBullshit. Outside of temporary supply disruptions (such as in natural disasters), rationing has always been a total failure. Central planners are incapable of efficiently allocating resources, and most of the participants end up cheating through a secondary black market. And anyone is free to print unlimited quantities of their own private currency. This is completely legal. But no one else is obligated to accept it.
- RhysU 4y agoMoney deflates so the wealthy need to pursue valuable investments to preserve and grow it. Value is generally produced by doing things that people will pay for. It is this value-seeking behavior by the masses that gives everyone some implicit input on the long horizon. And water is certainly a long horizon thing.