[Marxism] Supply and demand?

S. Artesian sartesian at earthlink.net
Wed Jul 9 16:41:23 MDT 2008

We need to distinguish between supply and current production.  Consumption 
can indeed outrun current production, requiring draw downs in stocks. 
Happens all the time.  But is that why the price of oil doubled in 6 months?

Supply and demand encompass everything and explain nothing.  They are the 
perfect pillars of bourgeois political economy, assuming what needs to be 
explained-- how is supply achieved?  how is demand identified, quantified, 
determined, changed? what do exchanges in the market actually accomplish?

Arguing that price increases and market volatility indicate unsatisfied 
demand really gets us nowhere but back to the the same point on a circle 
where every point looks the same from any other point.

It's profitability that drives the market turmoil not some external quantity 
of demand that is not being satisfied.

Actually a follower of Hubbert said it best at a lecture he gave at the 
Colorado School of Mines:  "The oil corporations have no interest in 
producing oil. They're in business to make money." (Not verbatim.  He gave 
the lecture in 2000).

----- Original Message ----- 
From: "Steve Palmer" <spalmer999 at yahoo.com>
To: <sartesian at earthlink.net>
Sent: Wednesday, July 09, 2008 6:13 PM
Subject: Re: [Marxism] Supply and demand? 

More information about the Marxism mailing list