GARY HELMS wrote:
> Capital and raw materials are not infinite, and are
> thus -always- in a position of relative scarcity.
> There are millions and millions of possible ways of
> allocating them (including leaving raw materials
> unexploited for future use.)
Bulk matter and energy are so plentiful that nothing short of megascale engineering can make a dent in the available supply. What is scarce is raw materials that have actually been extracted and prepared for use, and the reason they are scarce relative to demand is that an individual can consume far more resources than he can produce.
> Due to this relative scarcity raw materials and
> capital have a value. This value is
> determined/discovered in the market place by balancing
> various supply and demand curves.
>
> Some useful economics terms:
>
> opportunity cost
> supply and demand
> scarcity
> markets
You really ought to look into things a little before assuming that someone on this list is completely ignorant. I'm quite familiar with all of these terms and the theory behind them, and I see no contradiction with what I'm saying. If you think I'm wrong, make an argument. However, I suggest that you carefully read what I actually said first - your criticism definitely seems directed at a different argument than the one I made.
Billy Brown, MCSE+I
bbrown@transcient.com