Friday, April 15, 2016

Rediscovering the wheel …

… A Hippie Discovers Economics: See What Happens Next.

The point is not just to mock this particular person, although I have to admit that being totally ignorant about agriculture, economics, and history all at once is quite a feat. The point is that the development of modern industrial capitalism really was a logical, natural development continuing in a direct line from the very earliest, most primitive forms of production and trade. Specialization, markets, a medium of exchange (otherwise known as “money”), division of labor, economies of scale, savings, investment, credit, capital—all of it evolved naturally as solutions to problems that arose from a simple agrarian existence.
I wonder if the author of the Facebook post is a college grad. Or maybe a college student.

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