Billy Brown said:
> O'Regan, Emlyn wrote:
> > There's some kind of logical flaw here. Capitalism is about distribution
> > scarce resources to maximum effect, true? If so, you are saying that a
> > free market can't work until scarcity goes away. Why would we need an
> > economic system at all if we have magic nano tech?
> No, I'm saying that it is only perfectly, 100% reliable if there are no
> natural monopolies, and nanotech would get rid of those few situations I
> see where a natural monopoly might actually exist. Without nanotech we
> merely have a system that is 99.9% reliable - local monopolies and cartels
> can occasionally form around unusual resource scarcities, but tend to be
> short-lived in the absence of government intervention.
> IOW, the free market isn't perfect, but it works much better than any
> system humans have ever devised.
With nanotech, where's the need for a market at all? If it irons out all the bumps due to resource scarcities, so vanquishes scarcity, why do we need trade?
Emlyn (in oversupply)