***>Marginalism/STV disagrees... They state price is set where marginal cost = marginal utility<***
No, they most definitely do NOT state that. Price is price. The "profit maximizing," "market clearing" or "equilibrium" price is where "marginal revenue" equals "marginal cost." That price arises only in the condition of "perfect competition" in the absence of "monopoly." It is merely a theoretical model that on its own terms is perfectly logical. I've already informed you of this error. And I say that as an opponent of marginalism. The only thing you are demonstrating is that you are an ignoramus. -- ***>That which exist but by the group. If I need another to pick a fruit from a tree, then the fruit of the labor is a product of the group and not the individual. Put another way it is the ensuing economies of scale resulting from specialization/barter. Since it a product of a group, then the case can be made that the group should decide how to apportion this resulting reward.<*** The last sentence here does not follow logically from the first three. The benefits flowing from association accrue to the individuals making up the group. It is they as individuals who should decide on apportionment. They can best do that through free markets. -- ***>Thus nearly all of our wealth is a creation beyond that of the individual, to which the individual can not have an objective (especially large) claim on such assets.<*** The individual can legitimately have a claim that is greater than his own contribution because a) the whole is greater than the sum of its parts--what we call the increment of association, and b) the cultural heritage handed down from past generations. That claim is best expressed through free markets rather than bureaucratic dictat. So the truth is the exact opposite of your assertion. -- ____________________________________________________________ Enter for a chance to win one year's supply of allergy relief! http://ad.doubleclick.net/clk;6413623;3807821;f?http://mocda3.com/1/c/563632/125699/307982/307982 This offer applies to U.S. Residents Only --^---------------------------------------------------------------- This email was sent to: [EMAIL PROTECTED] EASY UNSUBSCRIBE click here: http://topica.com/u/?a84IaC.bcVIgP.YXJjaGl2 Or send an email to: [EMAIL PROTECTED] TOPICA - Start your own email discussion group. FREE! http://www.topica.com/partner/tag02/create/index2.html --^----------------------------------------------------------------
