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I will begin this blog post by saying that I don't support any of the current economic systems (free-market capitalist, Marxist-socialist, or Keneysian featuring most prominently in my mind), because they all have their flaws. I try to analyze each with the least amount of bias as possible, and try to figure out how to eliminate their problems and combine their best points into one logically coherent system. I will now proceed to explain where I think current economic theory as a whole has gone wrong.
The common assumption amongst modern people when it comes to economics, from free market capitalists to the most radical of Marxists, is that an individual finds it necessary to build up a stock of supplies for their own survival before they ar…Read more >