| > But capitalism works based not just on what you can produce, but what you can withhold. It's a "tragedy of the commons" problem: if anyone can hit a "clone chair" button for zero cost, few would pay to sustain enough professional chair makers. You contradict yourself once here. You say capitalism is based on what can be withheld. Another word for that might be scarcity. In 1932 Lionel Robbins said "Economics is the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses." This is still the modern mainstram definition of capitalism. Then you say:
> if anyone can hit a 'clone chair' button for zero cost, few would pay to sustain enough professional chair makers The idea that value comes from the labor of chair makers is a Marxist idea. You are making a Marxist argument here. It also contradicts your first argument. You say value comes from scarcity (modern mainstream economists agree), then you say value comes from labor (which is what Marx said) which contradicts the first argument. You're trying to make a Marxist argument for capitalism (Actually Marx did make an argument for capitalism - he said it was better than feudalism and slavery, but that's not what I mean here). You should go on the web and read about the subjective theory of value, and then about the labor theory of value. You argue STV in the first sentence and then LTV in the second. They can not both be right, their definition of value is contradictory. I should note you're not the first person I see making this error. As things become digital they lose their scarcity. I see all kinds of odd statements come out of this. You're not alone in this. But across the entire political spectrum, from far left to far right, all serious students of the economy agree only one side can be right, value comes from either subjective marginal/scarce/utility reasons or from a certain type of labor, but it is either one or the other. You flip back and forth between a capitalist-supporting argument and a Marxist argument. A Marxist argument for capitalism. I see this more and more, and I find it odd. |
The quote there appears to be defining "Economics", not "capitalism".
I'm curious about this: when did Capitalism stop meaning "the opposite of cottage industry" and start meaning "a market with limited regulation"? Was it Marx that introduced this?