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| Joined: | Mon Nov 21st, 2005 |
| Location: | California USA |
| Posts: | 6399 |
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One major conviction drives the new economics. Economists used to believe that it was unnecessary to measure utility except in this way: the price that a person was willing to pay for something established its utility, and so there was no need to dig any deeper, to examine what was driving the psyche of the economic actor.
Scarceonomics?
I see the "what the market will bear" pricing scheme in that type of monetary crankism which has been employed to rationalize the interest/profit/wage paying/limited liability/corporate/nation/state/systematic extortion by legal currency fraud monopoly crime.
You may not see it.