3 ms·
I don't know how you managed to do it, but you slipped in a critique of classical and neoclassical savings theory in this blog post with your school article. I
by imtringued 3y ago
I don't know how you managed to do it, but you slipped in a critique of classical and neoclassical savings theory in this blog post with your school article.
In classical economics, people must build the bricks before they can build the school. This sounds like the obvious and correct way to do it from a thousand miles, but as you pointed out, bricks produced by an uncoordinated group of people is going to result in a bad outcome.
On the other hand investment preceding saving sounds impossible, right? How can you invest something that doesn't exist? The bank gives you a loan using created money that does not exist. You use this money to order bricks from the brick factory. You then wait for the bricks to be produced and delivered in the future. The bricklayers get paid and save the money created by the loan. This way, the bricks meet the specification of the architect. The money held by the bricklayers is an implicit claim on the school. Each dollar represents a brick in the school.
This is how the organisation of labor is coordinated in a market economy. The problem with open source software is that there aren't organisations from which you can just "hire" contributors from. Instead you must already have the skills and then get lucky they don't reject your contributions before you can even think about becoming a member. It's the speculative brick problem all over again.