***>Price is where marginal benefits + utility (aka market cost) = cost. (The whole point of marginalism and STV) Cost is another term for price. So...price + utility = cost is circular logic. Circular logic is impossible, therefore supply and demand is junk.<***
Your argument is invalid not because marginalism is not invalid, but because you have falsely described marginalism. Marginalism is invalid because it is premised on the false assumptions that resources are scarce and demand is unlimited, so the two must intersect. Marginalism is perfectly logical premised on those assumptions. The new approach to economics is premised on the facts that resources are permanently abundant and the physical capacity to consume is permanently limited. Resources become abundant through continuing discovery, development and innovation. And it is physically possible to consume only so much per unit time. The limit to consumption is the point of satiation. -- "smithaa02" <[EMAIL PROTECTED]> wrote: > >"Capitalist Pig" <[EMAIL PROTECTED]> wrote in message >news:[EMAIL PROTECTED] >> On Thu, 23 Oct 2003 22:32:23 -0500, "smithaa02" <[EMAIL PROTECTED]> wrote: >> > >> >I've debunked marginalism, STV, and supply and demand all >> >in one. >> > >> >> Wow, I'm impressed! > >You should be... > >> >> > >> >Price + utility can't equal price for that is circular logic. >> > >> >> I wouldn't call it circular logic, I would call it a mistake. I have >> no idea how you could come up with such silly definition. >Price is where marginal benefits + utility (aka market cost) = cost. (The >whole point of marginalism and STV) Cost is another term for price. So... >price + utility = cost is circular logic. Circular logic is impossible, >therefore supply and demand is junk. > > ____________________________________________________________ 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 --^----------------------------------------------------------------
