Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
I'm beginning to think the entirety of Economics, as such, needs to be ripped-up root and branch.  Since the 1500s the discipline has been warped by self-seeking, self-justifications, supporting rentiers and trans-national mercantile companies. To 'Talk Economics' is to enter a twilight zone where False-to-Fact assumptions and premises seem to be necessary even if the speaker knows they are nonsense.

Looking at das monde's question to even attempt to answer means I accept that capital is a thing.  That it is a term, a noun, something that can the Subject or Predicate of a statement.  

But what if it is a Verb?  What if capital is Action or Being?  If so, saying "capital is scarce" is exactly the same as saying "walking is scarce."  If I went around saying, "Can't go down to the Post Office, WALKING IS SCARCE!!!!!"  They'd lock me up for a nutter.  

When you ... alright, when I ... look at capital I see Action and Being, not Person, Place, or Thing.

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Sun Jul 18th, 2010 at 01:18:04 AM EST
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