| Subject: | [socialcredit] the nexus | | Date: | Wednesday, November 16, 2005 09:03:39 (-0800) | | From: | William B. Ryan <w_b_ryan @.....com>
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The conventional view is that there is a nexus
(equilibrium point) between diminishing marginal
utility and increasing marginal costs, as a practical
matter limiting production to some level below
theoretical productive capacity.
But if marginal costs are actually decreasing, due to
continuous technological innovation, the equilibrium
point does not exist.
The community may achieve a nexus between leisure and
consumption at whatever level of production and
consumption it wishes to attain.
The process of course takes time, and will not obtain
in an instant.
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the nexus
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