What are the market foundations? To
state it in broad terms: one, the desires of the populace are infinite; two,
production is ultimately for consumption; three, production takes time; four,
an increase in goods leads to an increase in the standard of living; and five,
an increase in capital goods leads to a future increase in the standard of
living. And finally, making exchanges – as in trading – is made possible by and
leads to specialization and the division of labor.
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