Would be a terrible shame if lots of people opted out.

If you are a EU citizen you might also want to write a complaint to [email protected] because they are collecting your personally identifiable information in machine-readable form which they are distributing to third parties.

  • NeilBrü@programming.dev
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    25 days ago

    I tepidly agree that there will always be scarcity, but this:

    300 years ago, Wealth of Nations wasn’t yet written, the field of economics didn’t really exist. They believed shiny rocks had intrinsic value. They had some vibes about things like currency devaluation and inflation, but economics was still mostly about acquiring shiney rocks 300 years in the past. Taylor it for Reddit, this is a particularly leftist space where purported or self-styled leftists tend to jam their half-baked theories about Marxism and neo-Marxism in juxtaposition to late-stage capitalism.

    Tl;dr: Your claims about history reveal that you’re full of shit.

    The idea that pre-Adam Smith economics was just “cavemen liking shiny rocks” is a complete caricature. 300 years ago (1720s), thinkers weren’t staring at gold because it was pretty; they were managing global trade empires, state finance, and imperial expansion.

    ​A few actual facts:

    ​"Shiny rocks" was about material power, not shiny aesthetics.

    Mercantilists hoarded silver and gold because bullion was the only globally liquid medium of exchange that could buy naval fleets, pay mercenary armies, and settle trade balances with empires like China that refused European paper money. It was cold geopolitical pragmatism.

    ​They understood inflation long before 300 years ago.

    Copernicus literally wrote a treatise in 1526 explaining how debasing currency drives up prices, laying the foundation for the Quantity Theory of Money. In the late 1500s, Jean Bodin explicitly tracked how the influx of stolen American silver was causing massive inflation across Europe.

    ​The theory of political economy was thriving.

    The School of Salamanca in the 1500s had already analyzed value theory, supply/demand, and the ethics of trade. By the early 1700s, economists like Richard Cantillon were mapping out how money creation trickles through different social classes (the Cantillon Effect).

    ​Adam Smith didn’t invent the field of economics out of thin air in 1776—he was responding to centuries of detailed, material economic critique and state policy.

    Dismissing centuries of economic history as “vibes and shiny rocks” is just lazy.