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re: This is why business owners/entrepreneurs do not like democrats very much
Posted on 10/24/14 at 7:59 pm to Zed
Posted on 10/24/14 at 7:59 pm to Zed
quote:Goods have to be paid for with goods. Consumption by definition must be preceded by production. How can one possibly consume before any production has occurred? Individuals produce for the sake of consumption, not the other way around. When she argues that it is vital for consumers to have the money that make business possible, she does not ask how consumers got the money in the first place nor does she demonstrate an understanding of what money even is. Money, among a few other things, is a medium of exchange between goods. Its very existence implies that goods must have been produced in the first place (unless of course it has been illegitimately printed).
Zed
Posted on 10/24/14 at 8:12 pm to HailHailtoMichigan!
quote:With the expectation of consumption.
Consumption by definition must be preceded by production.
quote:Exactly. Demand drives markets. A new product, or significant improvement upon an existing one, can drive a new market, in almost all other circumstances, production responds to demand. In a properly functioning free market, producers should be replaceable. Demand is not. Lack of demand kills markets. It wipes them out.
Individuals produce for the sake of consumption
Supply and demand are obviously both important, but when one is consistently held above the other, a reaction should be expected. This is all a reactionary response to supply side economics, and deification of job creators IMO.
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