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Clearing up some common misconceptions

Posted on: November 15, 2017 at 11:24:38 CT
pickle MU
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1. Inflation is an increase in the money supply. It is not a general and natural increase in the price of goods. The result is commonly mistaken as the cause.

2. Production drives an economy. Neither consumption nor demand drive and economy. Production always comes first. You cannot consume that which does not exist. This is not a chicken-or-the-egg scenario.

3. Monopolies are government creations. Monopolies are not naturally occurring in markets. Dominant marketshare is not a monopoly and does not make a monopoly.
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Clearing up some common misconceptions - pickle MU - 11/15 11:24:38
     Who cares? (nm) - MUGuy2004 STL - 11/15 13:00:21
     Brilliant analysis. Oh, been to Venezuela lately. - GA Tiger MU - 11/15 12:32:50
          Venezuela is an example of a government that rebuked - ummmm MU - 11/15 12:41:14
     WADR: #3 is not correct - ScottsdaleTiger MU - 11/15 12:03:40
          Monopolies are either direct govt. creations or indirect - ummmm MU - 11/15 12:11:27
               That ignores scarcity of resources (nm) - DC Jayhawk KU - 11/15 12:28:11
                    Then we are really getting into the weeds and we could - ummmm MU - 11/15 12:31:43
                         I'd have to think about that. - DC Jayhawk KU - 11/15 12:37:45
                              That does not constitute a monopoly (nm) - pickle MU - 11/15 12:53:03
                                   How would you define a monopoly? - DC Jayhawk KU - 11/15 12:59:59
                              But that doesn't mean that aluminum doesn't have any - ummmm MU - 11/15 12:40:04
          All three points are correct - pickle MU - 11/15 12:08:27
          "dominant market share is not a monopoly" - - 90Tiger MU - 11/15 12:06:20
     Production for the sake of production is wasteful - MrBlueSky MU - 11/15 11:29:33
          That's a different issue. - ummmm MU - 11/15 12:12:26
          He doesn't understand that demand drives production - Spanky KU - 11/15 12:01:49
               Demand is constituted by supply. - ummmm MU - 11/15 12:13:07
               no spanky, VHS isn't produced because someone advanced - 90Tiger MU - 11/15 12:03:24
                    But what if someone kept producing VHS tapes? - Spanky KU - 11/15 12:06:43
                         The concept that production precedes consumption - ummmm MU - 11/15 12:18:18
                              Nah.. It's just a von Mises concept - Spanky KU - 11/15 13:43:01
                                   No, it's a classical concept of economics - ummmm MU - 11/15 13:45:22
                                        And then also consider this: - ummmm MU - 11/15 13:46:17
                         no, production of something people want will. there - 90Tiger MU - 11/15 12:09:32
                              So THAT'S what cucumber meant to say - Spanky KU - 11/15 12:16:26
                                   Demand is constituted by supply. - ummmm MU - 11/15 12:20:32
                                        Demand is satisfied by supply - Spanky KU - 11/15 12:24:15
                                             Reread the definition of demand as I have graciously - ummmm MU - 11/15 12:29:40
                                                  Can there be 'unsatisfied' demand? - Spanky KU - 11/15 12:47:37
                                                       No, there is no such thing as "unsatisfied demand" - ummmm MU - 11/15 12:53:39
                                                            Then you are clearly not a businessman or logistician - Spanky KU - 11/15 13:22:43
                                                                 jfc lol (nm) - 90Tiger MU - 11/15 14:00:09
                                                                 This is apparently over your head - ummmm MU - 11/15 13:24:34
                                   no, Spanky, he was correct. I'm explaining it in terms - 90Tiger MU - 11/15 12:18:12
                                        consumption is the true economic driver. - Spanky KU - 11/15 12:32:49
                                             On a micro level, sure. - ummmm MU - 11/15 12:40:40
                                   No, that's incorrect (nm) - pickle MU - 11/15 12:17:13
                         Holy **** (nm) - pickle MU - 11/15 12:09:20
                              it is impressive how passionate he is about remaining - 90Tiger MU - 11/15 12:10:16
                                   This is one of many situations with Spanky - ummmm MU - 11/15 12:23:53
                                        yup (nm) - 90Tiger MU - 11/15 12:47:07
          just one word to demonstrate how wrong you are - 90Tiger MU - 11/15 11:31:56
     RE: Clearing up some common misconceptions - JG MU - 11/15 11:28:30
          lol - 90Tiger MU - 11/15 12:13:15
               We can argue and bicker about why - JG MU - 11/15 13:05:54




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