CDR: Re: A famine averted...

[Richard Fiero]

The following seems just backwards. Marxist thought holds that the
whole is greater than the sum of the parts.

Ray Dillinger wrote:
 . . .
>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

With respect to equilibria, it's an unwarranted assumption that a
market has just one stable point.  Certainly the Great Depression was a
stable but undesirable situation.

With respect to weird math and models, there is no proof that -any-
math describes the situation. You are free to use any math that you
like. If there were a predictive model, you'd become extremely rich.
Models are just pictorial aids to thinking.

Finite number of market participants? No problem. Combined Value
auctions handle this perfectly. Indeed, find me an infinite number of
buyers for something and I'll figure out a way to produce it.