What is uneconomic under capitalism does not become economic under socialism.

Barry Brooks durable at earthlink.net
Fri Dec 13 18:46:23 MST 2002


> parasitism of much of so-called "service industries". Mark

It's easy to identify the parasites; it's everyone.  As
automation replaces human labor in production and in services it
may become apparent that everyone is involved.  Humility and
gratitude would be appropriate.

>First of all, profits are not, as you seem to suggest,
>an addition to the price which the consumer would other
>wise pay for a product.

Forgetting the chicken/egg aspect of the problem,
regardless of how one accounts for the split, part
of the output goes to owners, and they decide which
projects to fund based mostly on not just how much
total return a project will yield but on the rate
of that return.

The problem with capitalist planning is not as much due to profit itself
as it is due the rate of profit.  Interest discounts the future.
With capitalist planning projects which have a slow payoff over
generations are impossible because of this discounting of the
future.  Also, projects that yield use-value but no money
return gain little support with capitalist planning.

Even if capital wasn't monopolized the artificial scarcity of money
would still keep up the interest rate and thus discount the future.
If capital had zero return only politics (real planning) could
decide what projects to undertake.

Mark, I'm glad to have been wrong about your support for the market.

Barry






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