One thought on “Fallacy of Equilibrium Part 1: The Mercantile Origin”

  1. The “law of demand” is not a law at all, but a cultural quirk. There are tribes which have a practice called “insulting the meat” and its meant to keep the hunters humble instead of reward. It should also be pointed that Adam Smith’s example easily shows how Marxists are right about capitalism being inefficient. Capitalism spends much of its resources on things which are useless, its exchange values are out of sync with use values. As such, a society based on use value (Socialism) will eventually replace it.

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