Consumption and productivity in a free market

[MMMark]

Thurs. 12/07/05 12:12 EDT
.post #204
[url=Consumption and productivity in a free market - #17 by z1235]

@z1235

[/url]Voluntary (inter)actions reflect the subjective valuations of each participant in the economy. Each voluntary exchange makes both parties better off and, as such, is the “atom” of wealth creation (satisfaction of wants).

To your felicitous metaphor, I offer a slight revision:

I suggest that production might be more aptly described as the “atom” of wealth creation, since it must occur prior to voluntary exchange.

But since individuals, like atoms, also interact for mutual enrichment, I suggest that voluntary exchange might be the “molecule” of wealth creation.