Originally posted by KazetNagorraGrade A eggs may substitute for Grade B or Grade C eggs, and Grade AAA eggs would be an improvement substitute for grade A.
"Substitute" (in an economic sense) does not mean that the quality is the same. It means that it's a possible alternative. Any kind of food is a substitute for any kind of other food (as long as you're not allergic etc.). Price and preferences determine which of the available options one chooses. Someone who likes organic peanut butter a lot may still o ...[text shortened]... t for regular peanut butter if the organic version is ten times more expensive, for example.
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Originally posted by normbenignI don't care what you call it - they can still sit at the beach all day, every day, and get paid for it - not because they're working as a model or an extra or an actor, but because they're rich.
They get paid for their money working, not for not working. A man with a shovel may be able to dig a grave in a half a day. With a tea spoon it may take him a month. With a back hoe he can do it in 10 minutes.
The difference between a backhoe, a shovel, and a teaspoon is capital.
Originally posted by normbenignA backhoe, a shovel and a teaspoon used as described are capital.
They get paid for their money working, not for not working. A man with a shovel may be able to dig a grave in a half a day. With a tea spoon it may take him a month. With a back hoe he can do it in 10 minutes.
The difference between a backhoe, a shovel, and a teaspoon is capital.
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Originally posted by AThousandYoungWrong:
nvm
In economics, capital goods, or real capital are already-produced durable goods that are used in production of goods or services. The capital goods are not significantly consumed, though they may depreciate in the production process. Capital is distinct from land in that capital must itself be produced by human labor before it can be a factor of production. At any moment in time, total physical capital may be referred to as the capital stock (which is not to be confused with the capital stock of a business entity.) In a fundamental sense, capital consists of any produced thing that can enhance a person's power to perform economically useful work—a stone or an arrow is capital for a caveman who can use it as a hunting instrument, and roads are capital for inhabitants of a city. Capital is an input in the production function. Homes and personal autos are not capital but are instead durable goods because they are not used in a production effort.
http://en.wikipedia.org/wiki/Capital_(economics)
EDIT: Was responding to a post that was edited.
Originally posted by no1marauderYeah I corrected my own mistake, was hoping you wouldnt catch it
Wrong:
In economics, capital goods, or real capital are already-produced durable goods that are used in production of goods or services. The capital goods are not significantly consumed, though they may depreciate in the production process. Capital is distinct from land in that capital must itself be produced by human labor before it can be ...[text shortened]... ://en.wikipedia.org/wiki/Capital_(economics)
EDIT: Was responding to a post that was edited.
Originally posted by no1marauderThis observation, while correct, makes it hard for some people to understand capitalism. Every society, whether feudal, Communist, anarchistic, in the Natural State, whatever, makes use of capital.
A backhoe, a shovel and a teaspoon used as described are capital.
But Capitalism is something more specific which isn't really understood by the masses who support it.
Originally posted by AThousandYoungThe guy with the backhoe is richer than the guy with a teaspoon. Capital is accumulated or earned, or inherited. In any case it makes production more efficient, and therefore earns money.
I don't care what you call it - they can still sit at the beach all day, every day, and get paid for it - not because they're working as a model or an extra or an actor, but because they're rich.