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How does economics bend over backwards to hide the “fundamental theorem”? Every intro to macroeconomics basically starts with a simplified conceptualisation of
by LudwigNagasena 2y ago
How does economics bend over backwards to hide the “fundamental theorem”?
Every intro to macroeconomics basically starts with a simplified conceptualisation of production as a function of labour and capital. Then it describes returns to labor and capital and so on. People who own capital get paid for that capital. It’s quite literally Economics 101.