“Economics is the study of scarcity and how people allocate scarce resources.”
Posted by ENVYisEVIL@reddit | Libertarian | View on Reddit | 7 comments
Posted by ENVYisEVIL@reddit | Libertarian | View on Reddit | 7 comments
ArtemisRifle@reddit
Cant have infinite growth in systems with finite resources. Capitalism is pitted against the laws of physics.
AdrienJarretier@reddit
Even if this statement was true (it is not, so let's accept it by fiat). your "finite resources" must include the entire universe, which, well, I don't know if it's finite or not, but for all human practical purposes it's irrelevant, especially for economic growth.
When we'll have build everything we can using iron on earth and we'll want to build things without destroying other things, like buildings, we'll go mine asteroids in our local solar system.
ENVYisEVIL@reddit (OP)
In other words: “capitalism is constrained by the reality of physics, whereas socialism is not?”
ArtemisRifle@reddit
Critiques of capitalism are not endorsements of socialism. Nor are they craven appeals to some middle ground that only exists in the minds of self idolizing centrists.
thelowbrassmaster@reddit
Exactly, just because something is limited doesn't mean it isn't also the most effective solution.
natermer@reddit
Economics is a type of moral philosophy that tries to understand the effects of human interactions at a large scale in the natural world.
One of the biggest mistakes that has happened in the field of economics is to try to treat it like it is a "hard" science. Attempting to ape the "scientificness" of natural sciences is just pure chicanery.
sssanguine@reddit
Economists be like “My theory is simple. First we assume there are rational actors operating in an efficient market”
And then wonder why their theory doesn’t translate into the real world