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by hpatel
5100 days ago
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You nailed it. The key problem is 'demand' is determined only by whoever has money. Capitalism works because each person gets a say in what is important and creates value for them. The problem is that if you don't have above a certain amount of money, you don't get much of a say. In the age of immense income inequality, this completely distorts the 'demand' generation aspect of capitalism. What if we divorced 'demand'(what creates value for each person) from money (payment for value created) and gave all actors an equal right to determine demand irrespective of their ability to pay? We are working on building such a world. |
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Demand is already divorced from ability to pay - anyone can "demand" anything. The "problem" is that suppliers don't care about demand. They only care about being paid.
If a million people demand X but are unwilling to pay for it while 10 people demand Y and are willing to pay for it, why am I going to produce X instead of Y?