The reason, for instance, why millions of people are starving in the world today is quite simply because they have no money to buy the food they need and hence do not constitute a market. Again, the reason an abundance of high-quality consumer goods — good food, clothes, household goods, cars — is not produced today is because the market demand for consumer goods is restricted by the amount of money the operation of the wages system puts into the pockets of wage and salary earners. In an exchange economy wealth is produced to meet not what people need, but only what they can pay for.
Posted on: Thu, 16 Oct 2014 02:54:08 +0000