Economic Value


A very quick primer on what I think is Economics 101:

  • When two parties voluntarily enter into contract, each one, by definition, comes out ahead.
    • The milk I get from the grocer is worth more to me than the money I give to the grocer.
    • The money the grocer gets from me is worth more than the milk the grocer gives to me.
    • This is an example of a GROWING economy where people yearn to trade.
  • When one or more parties are forced into contract, one or the other -or both-, by definition, comes out behind.
    • When forced to sell milk at a price below market value, the grocer receives less money than the milk is worth.
    • When forced to buy labor at a price above market value, the employer pays more for the labor than the labor is worth.
    • This is an example of a shrinking economy.

As a point of fact.  I actively pursue things that create a situation where I come out ahead.  I avoid those where I come out behind.

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