[Marxism] Would people from the future bid up prices if they were represented now?
durable at earthlink.net
Sun Jun 8 19:58:01 MDT 2008
Don't bother to argue with any price theory
in particular. Prices will never be an
adequate guide for planning.
In today's electronic international markets,
with binary purchasing media, with so much
being produced cheap in one place and sold
dear elsewhere, prices do get disconnected
from labor. With lots of middle-men and high
rates of mark-up and automation it is often
true that labor costs play little role in price.
Basically the workers aren't paid much at
all, virtual slaves. One old price theory is
that prices rise to whatever the market will
bear. But, now the workers are not the
buyers, and they don't really get paid.
Even if prices accurately reflected local
wage costs it would still be unwise to make
planning decisions only on the basis of prices.
Let me make it clear. Any mechanism that sets
prices will not make following the money
a good idea.
Market believers have an un-targeted Achilles
heel. Prices will always be an inadequate
guide for planning, public or private, if the
future isn't included. Prices are mostly
about now, and a bit about harvest time. Only
politics can curb the forget-the-future market.
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