The Basics of Economics.

[Reality91]

Do you understand how an economy works?

Give the best explanation of what you think it's working are.

What do you understand about capitalism and how do you see it?

 

[Kimura]

Do you understand how an economy works?

Give the best explanation of what you think it's working are.

What do you understand about capitalism and how do you see it?

That's a broad question. There's macro, micro, labor theory, macroaccounting, accounting identities, monetary operations, etc. Economics is first and foremost a social science with interesting and complex dynamics.

 

[Morganist]

An economy is where goods can be developed and traded.

 

[EdwardBaiamonte]

What do you understand about capitalism

under capitalism and freedom all transactions are voluntary and so only conducted only for the betterment of both parties to a transaction.

under socialism most transactions are coerced so not for the betterment of both parties.

Now you can see why the USSR, Red China and East Germany failed.

 

[Joe Steel]

Do you understand how an economy works?

Give the best explanation of what you think it's working are.

What do you understand about capitalism and how do you see it?

An economy is money in motion. When money is flowing, the economy does well. When persons who have money decide to hold it, the economy does poorly.

The sole value of capitalism to the political economy is its capacity to efficiently allocate resources. Capitalists seeking profit go to great lengths to determine consumer needs and fill them while using he least possible volume of resources.

 

[sparky]

Do you understand how an economy works?

Give the best explanation of what you think it's working are.

What do you understand about capitalism and how do you see it?

I've read my a*s off, debated in economic forums, what do i know?

I know we need JOBS

Anything else almost qualifies as secondary....

~S~

 

[EdwardBaiamonte]

Do you understand how an economy works?

Give the best explanation of what you think it's working are.

What do you understand about capitalism and how do you see it?

I've read my a*s off, debated in economic forums, what do i know?

I know we need JOBS

and how do we get real jobs??????????????

 

[sparky]

Dunno Ed, but we sure could use 'em.....~S~

 

[Joe Steel]

I've read my a*s off, debated in economic forums, what do i know?

I know we need JOBS

and how do we get real jobs??????????????

That depends on the definition of "real."

 

[EdwardBaiamonte]

I've read my a*s off, debated in economic forums, what do i know?

I know we need JOBS

and how do we get real jobs??????????????

That depends on the definition of "real."

lets say a real job is one created by the private sector and sustained
by the private sector for 3 years or more

 

[EdwardBaiamonte]

Dunno Ed, but we sure could use 'em.....~S~

yes with 24 million unemployed we sure could. Here's how:

1) Make unions illegal ( 10 million new jobs) Democrats oppose

2) make minimum wage illegal ( 5 million new jobs) Democrats oppose

3) end business taxation; especially tax incentives to off-shore jobs ( 5 million new jobs) Democrats oppose

4) make inflation illegal ( 2 million new jobs) Democrats oppose


5) make Federal debt illegal( 2 million new jobs) Democrats oppose

6) send illegal workers home(8 million new jobs) Democrats oppose

7) Pass Balanced Budget Amendment to Constitution( 3 million new jobs) Democrats oppose

8) cut pay of government workers in half( 4 million new jobs) Democrats oppose

9) Make health insurance competition legal( 6 million new jobs) Democrats oppose

10) end needless business regulations ( 2 million new jobs) Democrats oppose

11) restrict Federal spending to 15% of GNP( 2 million new jobs) Democrats oppose

12) support unlimited free trade( 2 million new jobs) Democrats oppose

13) reduced unemployment compensation, welfare, food stamps, medicaid.( 2 million new jobs) Democrats oppose

14) privatize education, social security ( 4 million new jobs) Democrats oppose

15) end payroll taxes ( 1 million new jobs) Democrats oppose

Since Democrats always oppose wisdom and common sense the only serious option is to make them illegal as the Constitution intended

 

[Joe Steel]

and how do we get real jobs??????????????

That depends on the definition of "real."

lets say a real job is one created by the private sector and sustained by the private sector for 3 years or more

The source of all real jobs, then, is consumer spending. When consumers spend money, capitalists react by producing more of what consumers want. That takes workers and materials. To create jobs, make sure consumers have money and feel they can spend it rather than hold it.

 

[Toro]

Do you understand how an economy works?

Yes.

Give the best explanation of what you think it's working are.

Supply and demand.

What do you understand about capitalism and how do you see it?

Alot. It's great.



You're welcome.

 

[Toro]

That depends on the definition of "real."

lets say a real job is one created by the private sector and sustained by the private sector for 3 years or more

The source of all real jobs, then, is consumer spending. When consumers spend money, capitalists react by producing more of what consumers want. That takes workers and materials. To create jobs, make sure consumers have money and feel they can spend it rather than hold it.

The source of all wealth creation is not demand. Demand is essentially infinite, and everywhere and always exist.

What creates wealth is innovation and the commercialization of innovation.

 

[Joe Steel]

The source of all real jobs, then, is consumer spending. When consumers spend money, capitalists react by producing more of what consumers want. That takes workers and materials. To create jobs, make sure consumers have money and feel they can spend it rather than hold it.

The source of all wealth creation is not demand. Demand is essentially infinite, and everywhere and always exist.

What creates wealth is innovation and the commercialization of innovation.

To what end? Why would anyone innovate and commercialize an innovation if he couldn't sell it?

 

[Samson]

The source of all real jobs, then, is consumer spending. When consumers spend money, capitalists react by producing more of what consumers want. That takes workers and materials. To create jobs, make sure consumers have money and feel they can spend it rather than hold it.

The source of all wealth creation is not demand. Demand is essentially infinite, and everywhere and always exist.

What creates wealth is innovation and the commercialization of innovation.

To what end? Why would anyone innovate and commercialize an innovation if he couldn't sell it?

 

[Toro]

The source of all real jobs, then, is consumer spending. When consumers spend money, capitalists react by producing more of what consumers want. That takes workers and materials. To create jobs, make sure consumers have money and feel they can spend it rather than hold it.

The source of all wealth creation is not demand. Demand is essentially infinite, and everywhere and always exist.

What creates wealth is innovation and the commercialization of innovation.

To what end? Why would anyone innovate and commercialize an innovation if he couldn't sell it?

They wouldn't.

Demand is infinite. The demand for life-saving procedures was just as strong in 500 AD, 1000 AD and 1500 AD as it is today. But simply because demand was strong 500, 1000 and 1500 years ago does not mean life-saving products and procedures were produced then. It wasn't demand that created life-saving products. It was through innovation to meet a demand that has always existed.

Often times, society has no idea what it wants, and innovators create products for consumers to discover. 50 years ago, society didn't say "What we really need are phones that can connect to the Internet so we can exchange email, surf the Web and guide us with interactive maps while we drive." The number of people on the planet who had conceived of such a smartphone could have been counted on one hand. Yet today, we have more computing power in our pockets than in the IBM labs of 50 years ago.

Of course demand is very important, but all wealth is generated by creating more with less and shifting cost curves down. Shifting cost curves down occurs through innovation. For most of human history, aggregate wealth did not grow. Almost all the wealth of the world has been created over the past 200-250 years. Yet, demand for life-saving products, better and more food, more leisure and entertainment, etc., has always existed. It is only through innovation that allows us to create services and products to meet infinite demand.

 

[Truthmatters]

and how do we get real jobs??????????????

That depends on the definition of "real."

lets say a real job is one created by the private sector and sustained
by the private sector for 3 years or more

then no military position is a real job to you?

No police job is real?

no firemans job is real?

No public teachers job is real?

 

[Truthmatters]

Dunno Ed, but we sure could use 'em.....~S~

yes with 24 million unemployed we sure could. Here's how:

1) Make unions illegal ( 10 million new jobs) Democrats oppose

2) make minimum wage illegal ( 5 million new jobs) Democrats oppose

3) end business taxation; especially tax incentives to off-shore jobs ( 5 million new jobs) Democrats oppose

4) make inflation illegal ( 2 million new jobs) Democrats oppose


5) make Federal debt illegal( 2 million new jobs) Democrats oppose

6) send illegal workers home(8 million new jobs) Democrats oppose

7) Pass Balanced Budget Amendment to Constitution( 3 million new jobs) Democrats oppose

8) cut pay of government workers in half( 4 million new jobs) Democrats oppose

9) Make health insurance competition legal( 6 million new jobs) Democrats oppose

10) end needless business regulations ( 2 million new jobs) Democrats oppose

11) restrict Federal spending to 15% of GNP( 2 million new jobs) Democrats oppose

12) support unlimited free trade( 2 million new jobs) Democrats oppose

13) reduced unemployment compensation, welfare, food stamps, medicaid.( 2 million new jobs) Democrats oppose

14) privatize education, social security ( 4 million new jobs) Democrats oppose

15) end payroll taxes ( 1 million new jobs) Democrats oppose

Since Democrats always oppose wisdom and common sense the only serious option is to make them illegal as the Constitution intended

'Wage theft' prevails in post-recession economy - baltimoresun.com

 

[Truthmatters]

No one sellls something that there is NO market for.

Some are innovative enough to see a future need.

That still means they need the consumer demand to make the idea sellable