[mdlug-discuss] Economics (Was: CRT)

[Aaron Kulkis]

Ingles, Raymond wrote:
>> From: Aaron Kulkis
> 
>> This is Adam Smith's "invisible hand" or the market place
>> at work -- Neither you or I can know the exact inputs into
>> everything, but prices transmit accumulated information which
>> nobody could ever keep track of. [This is why demand-side
>> and command economies like the Soviet Union and N. Korea
>> always wind up as complete failures -- the replacement of
>> market prices with political decisions causes massive
>> inefficiencies which are never identified.]
> 
>  And yet, there can be 'externalities' that are not tracked by the
> market: 
> 
> https://secure.wikimedia.org/wikipedia/en/wiki/Externality
> 

Yes.. Often invoked, but rarely identified by those who
oppose economic freedom.

Don't pay someone to haul away your waste, sell your by-products.