Due to the equilibrating power of arbitrage the economy operates and is characterized by the tendency towards the principle of uniformity-of-profit. This is what keeps in proper balance the production of all types, and of all of the different items that are directly or indirectly necessary for our survival.
Sunday, September 01, 2013
Use-Value Production.
There are
three types of production for use-value. The first one is production for a more
useful form. The second is production for the place more
preferred or more valued. And finally there is production that is made
available at a more desirable time. Capital and especially the
combination of capital and storage make time production feasible. Producers’
goods are examples of time use-value.
Due to the equilibrating power of arbitrage the economy operates and is characterized by the tendency towards the principle of uniformity-of-profit. This is what keeps in proper balance the production of all types, and of all of the different items that are directly or indirectly necessary for our survival.
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Due to the equilibrating power of arbitrage the economy operates and is characterized by the tendency towards the principle of uniformity-of-profit. This is what keeps in proper balance the production of all types, and of all of the different items that are directly or indirectly necessary for our survival.
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