Saturday, July 21, 2018

Supply, Demand, Dialectics

Insofar as a foundation of an Economic system is the relation between Supply and Demand, and as that relation is inherently regular, even if not Mathematized, the description of the system is a Science.  Now, according to Capitalism, individual behavior is governed by the drive to maximize Profit.  Hence, Supply and Demand are each governed by the drive to maximize Profit, the resultant of which is conceived in Capitalism as Equilibrium.  So, Marshall's widely-adopted innovation is to Mathematize the Supply-Demand interaction, and to shift focus to their Mathematized Equilibrium, i. e. Price.  However, Capitalists, and at least some Socialists seem unaware that under those conditions, the Supply-Demand relation is Dialectical, i. e. as each seeking to make the most of what the other has to offer, while giving up the least, the relation is antagonistic.  Hence, whether or not it is recognized as such, insofar as Economics is, based on the Mathematization of the Supply-Demand relation, a Science, then it is a Marxist Science.

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