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Thread: the price system is bad for economic productivity and jobs

  1. #1

    Default the price system is bad for economic productivity and jobs

    An economy COULD produce more if it wanted to, but it won't because of the free market's mechanism of finding the correct price.



    The above illustration shows that a quantity of 50 COULD be produced (which means more productivity and more jobs), but it won't because of the price.



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  3. #2

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    Quote Originally Posted by Boshembechle View Post
    An economy COULD produce more if it wanted to, but it won't because of the free market's mechanism of finding the correct price.



    The above illustration shows that a quantity of 50 COULD be produced (which means more productivity and more jobs), but it won't because of the price.
    Are you aware that we don't currently operate in a free-market?
    Donald Trump > SJW ass-tears

  4. #3

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    And yes, a slave always could produce more...
    Donald Trump > SJW ass-tears

  5. #4

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    Quote Originally Posted by Petar View Post
    And yes, a slave always could produce more...
    Who said anything about slavery?

  6. #5

    Default

    Ok, this convinces me. This is someone's sock puppet just having fun. Nobody is really this stupid.
    "And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat

    "It is difficult to free fools from the chains they revere." - Voltaire

  7. #6

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    Quote Originally Posted by Boshembechle View Post
    Who said anything about slavery?
    Either you are free to set the price of your own labor/goods or you are not...
    Donald Trump > SJW ass-tears

  8. #7

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    And why do you refuse to recognize that we don't currently live in a free-market?
    Donald Trump > SJW ass-tears

  9. #8

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    Now THAT is stupid.
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  10. #9

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    Quote Originally Posted by CaptUSA View Post
    Ok, this convinces me. This is someone's sock puppet just having fun. Nobody is really this stupid.
    How so? Is it true or is it not true that the price determines how much is produced? Our economy could easily produce more cars, clothing, etc but will not because of price. It makes no sense. Why not use ALL of your resources you have available?

  11. #10

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    Quote Originally Posted by Boshembechle View Post
    How so? Is it true or is it not true that the price determines how much is produced? Our economy could easily produce more cars, clothing, etc but will not because of price. It makes no sense. Why not use ALL of your resources you have available?
    Funny. Is this fun for you? Pretending to be an idiot? Andy Kaufman would be proud.
    "And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat

    "It is difficult to free fools from the chains they revere." - Voltaire

  12. #11

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    Great, the world can produce 20 Trillion cars and 13 tires.
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  13. #12

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    Tonight, there is at least one unemployed, self-centered, really, really, lazy ass who demands that somebody give him a job.

  14. #13
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    Default

    Quote Originally Posted by Boshembechle View Post
    An economy COULD produce more if it wanted to, but it won't because of the free market's mechanism of finding the correct price.



    The above illustration shows that a quantity of 50 COULD be produced (which means more productivity and more jobs), but it won't because of the price.
    Quote Originally Posted by Boshembechle View Post
    How so? Is it true or is it not true that the price determines how much is produced? Our economy could easily produce more cars, clothing, etc but will not because of price. It makes no sense. Why not use ALL of your resources you have available?
    You should sue the economy for being such a dick. Tell that bastard to start producing more like a good communist economy would. There is a reason that all of the greatest economies in the world are communist and this stupid free market economy we are stuck with is an $#@! for keeping people from having jobs.

    You know what I really hate about our economy? It's how the economy doesn't care about the poor. I mean if you look at the communist nations in the world, they don't have poor people. But here in America our economy just doesn't seem to give a $#@! about the poor.

    Please sue the economy and end this injustice now! Don't turn your back on the poor. Only you can prevent poverty.
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  15. #14

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    Quote Originally Posted by Henry Rogue View Post
    Great, the world can produce 20 Trillion cars and 13 tires.
    I have about four or five tires in case of that

  16. #15

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    Quote Originally Posted by Boshembechle View Post
    An economy COULD produce more if it wanted to, but it won't because of the free market's mechanism of finding the correct price.



    The above illustration shows that a quantity of 50 COULD be produced (which means more productivity and more jobs), but it won't because of the price.
    Your understanding of economics sucks really badly, I am sorry to inform you. If you knew how wildly wrong you are, you would wear a paper bag over your head both publicly and privately for the next 5 years.
    Through lives and lives shalt thou pay, O' king.

  17. #16

  18. #17

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    yall posting in a fire11 thread?
    Waiting for the day the classical liberals drive the hateful alt-right out of the republican party, and the libertarians can rise again.

  19. #18

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    And here's my unlabeled X shaped graph proving your unlabeled X shaped graph is all wrong:

    X
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  20. #19

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    Ben Bernanke trolling RPF's. lol

  21. #20

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    Quote Originally Posted by P3ter_Griffin View Post
    Yes you are, for consumers determine the price

  22. #21

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    I would rather make intelligent and prudent choices about how I spend what I earn than expect everyone else to work harder so I can have more stuff.
    Last edited by euphemia; 06-30-2014 at 10:12 PM.
    "There are two freedoms - the false, where a man is free to do what he likes; the true, where he is free to do what he ought."~~Charles Kingsley

  23. #22

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    Quote Originally Posted by tobismom View Post
    I would rather make intelligent and prudent choices about how I spend what I earn than expect everyone else to work harder so I can have more stuff.
    You would expect them to work harder, and they would expect you to work harder. Seems like a fine system that ensures mutual destruction of scarcity.

  24. #23

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    Quote Originally Posted by Boshembechle View Post
    You would expect them to work harder, and they would expect you to work harder. Seems like a fine system that ensures mutual destruction of scarcity.
    I work hard every day . I care not if others work at all so long as they get nothing from my labor , as it should be .Ticks .

  25. #24

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    Quote Originally Posted by brandon View Post
    yall posting in a fire11 thread?
    Nah , they would ban him and encourage more commies instead .

  26. #25

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    Quote Originally Posted by Boshembechle View Post
    You would expect them to work harder, and they would expect you to work harder. Seems like a fine system that ensures mutual destruction of scarcity.
    Exactly. People work harder to produce more stuff so you can work harder to earn it.
    "There are two freedoms - the false, where a man is free to do what he likes; the true, where he is free to do what he ought."~~Charles Kingsley

  27. #26

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    Quote Originally Posted by Boshembechle View Post
    Yes you are, for consumers determine the price
    I agree that for an exchange to take place the consumer must be willing and able to pay the asking price. If we assume we're dealing with a rational consumer this is setting the upper bounds of pricing. The individual offering the product is the sole determinate of the lower bounds. Supply and demand or equilibrium pricing is a business's pricing mechanism. Just as cost of production theory of value could be a business's pricing mechanism. As arbitrarily setting prices could be. Free markets have no pricing mechanism. They are markets free of force. The rest is left to the individual actors.

  28. #27

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    Quote Originally Posted by Boshembechle View Post
    An economy COULD produce more if it wanted to, but it won't because of the free market's mechanism of finding the correct price.



    The above illustration shows that a quantity of 50 COULD be produced (which means more productivity and more jobs), but it won't because of the price.
    What your graph shows you is that consumers are only willing to buy 50 units if the price is 1, and producers are only willing to produce 50 units if the price is 5. So neither will do either, and those resources will be fortunately directed elsewhere. Social welfare is opitmized at the clearing price of 3 and an output of 30. This maximizes consumer surplus and producer surplus and social welfare. Any beginning principles text in micro will cover this in the first few chapters.
    Last edited by anaconda; 07-01-2014 at 01:59 AM.

  29. #28

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    Quote Originally Posted by anaconda View Post
    What your graph shows you is that consumers are only willing to buy 50 units if the price is 1, and producers are only willing to produce 50 units if the price is 5. So neither will do either, and those resources will be fortunately directed elsewhere. Social welfare is opitmized at the clearing price of 3 and an output of 30. This maximizes consumer surplus and producer surplus and social welfare. Any beginning principles text in micro will cover this in the first few chapters.
    Exactly. The price system makes it uneconomical for actors in a market to produce at a level that creates abundance. If the price was 0, and the firm was owned by an entity that didn't have to deal with costs, there would be much more production. (enough to solve the scarcity issue)

  30. #29

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    Who doesn't have to deal with costs? Raw materials, technology, and labor cost something.
    "There are two freedoms - the false, where a man is free to do what he likes; the true, where he is free to do what he ought."~~Charles Kingsley

  31. #30

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    Quote Originally Posted by tobismom View Post
    Who doesn't have to deal with costs? Raw materials, technology, and labor cost something.
    Only in free markets

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