5 ms·
And from thence comes the whole concept of "it's my job to produce way more X than I need to survive, and I will trade my surplus X for Y" where Y is something
by cvoss 3y ago
And from thence comes the whole concept of "it's my job to produce way more X than I need to survive, and I will trade my surplus X for Y" where Y is something you also need to survive but didn't have time to do because of X.
It's way more efficient for everybody to divide labor this way than to have each household be its own independent and self-sustaining system.
- qp11 3y agoThats only in a day dream about how surpluses in the systems work. Read the history of banking. Wall St will show up and convince you to hand over surplus to protect it, and handle all the hassles of dealing with others who need it. This way they control the price others pay. And make sure they are in their debt forever or go bankrupt. As my econ prof loved to say all models of the world dont assume there is mindlessly ambitious J P Morgan out there. And have nothing interesting to say about what to do about him.