Production Theory

“180 Trillion Leisure Hours Lost To Work Last Year,&#82

http://www.denverpost.com/business/ci_6336532

Over the weekend I watched “Flags of our Fathers“ and one quote

Time preference says that individuals prefer satisfaction now to later, present to future. This explains the loan market. In the structure of production, the capitalist pays wages now, despite the fact that he himself does not get paid until the final stage when the product actually comes to market.

Leftist ideologues do pose a real threat. Many people find their rhetoric convincing. But all the Left really has to defend their position on minimum wages and other issues are faulty studies, demagogic remarks regarding poverty and racism, and vague references to "social justice." Logic and evidence are on our side.

Factors of Production are economic goods: scarce means used to achieve an individual’s ends. They are land, labor and capital. Each is examined. Incomes are earned by factor owners as production takes place. There is no separated production and distribution.

All action is really exchange. What the actor prefers less is exchanged for something he prefers more, including gift giving. It is a fallacy to say that the goods exchanged have equal value.

You know, socialist governments are just so sweet. They pay people to take vacations, and surely no one can complain about that!

I’ve been completely captivated by this series of inter

Free — no matter where it comes from — can help sell.