Sunday, April 11, 2010

Capital, labor and stuff

I trade labor for money. I trade money for stuff. Hence I trade labor for stuff by the transitive property. I dislike labor but I need stuff. This is a problem. If I can get enough capital, I could trade capital for money, hence trade capital for stuff. This would solve the problem. ( Recall economics=> the production and distribution of stuff. Econ. policy = what gets produced, how and who gets to consume it.)

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