nrh@inmet.UUCP (01/08/86)
>/* Written 12:53 am Dec 25, 1985 by baba@spar in inmet:net.politics.t */ >> The market has the advantage over opinion polls in that it can measure >> more accurately than opinion polls can the EXTENT of people's wants, as it >> forces people to put their money where their mouths are. >> >> Michael Sykora > >And, of course, it gives the people with the most money the biggest mouths. > > Baba And, of course, forces them to pay for every "syllable" they "utter".
orb@whuts.UUCP (SEVENER) (01/15/86)
> > >/* Written 12:53 am Dec 25, 1985 by baba@spar in inmet:net.politics.t */ > >> The market has the advantage over opinion polls in that it can measure > >> more accurately than opinion polls can the EXTENT of people's wants, as it > >> forces people to put their money where their mouths are. > >> > >> Michael Sykora Not necessarily. The market is only an accurate measure of people's ability to provide *money* for their wants, which in turn depends upon the distribution of income and, more importantly, wealth. The people starving in Africa and in other Third World countries throughout the world have one most fundamental want and *need* : food. Yet because they have no money they count for nothing in the market. There have been theoretical economic articles written which demonstrate that the market is only a reasonable reflection of people's actual wants *given a relatively equal distribution of income*. If a few people control most of the income and the wealth and most people control nothing then only the wants of the wealthy will be measured by the market. This is one of the worst flaws of laissez faire economics. To put it in Michael's graphic terms - "it only forces people to put their money where their mouths are *if they have money*". And anyway what the starving throughout the world really want is FOOD in their mouths, not money. tim sevener whuxn!orb