On Fri, 13 Oct 2000, Jim Choate wrote:
No stupid, there are lot's of persons called the 'market'. There is no 'market' without those individuals. When the market goes out of equilibrium then free market mechanisms are not enough to correct.
They most assuredly are enough to correct the problem, provided they are allowed to work.
It is not in the interest of the market to have a percentage of the market die due to resource limitations. If you don't get this then I'm not the dumb one here.
If there is a resource limitation such that a larger population cannot be supported *easily*, then the market comes back into equilibrium by killing off the excess humans. The problem is corrected, and things may then continue on a more even keel. Get it through your head -- the Market is NOT the same thing as the individual economic actors whose actions make it up. That is the fundamental mistake made by Marx and Rousseau -- Thoroughly refuted by Adam Smith and Thoreau, but you can ignore the theorists anyway, and look at history for the refutation instead. Bear