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#303 – Steve Keen: Marxism, Capitalism, and Economics
Lex Fridman Podcast
The Essence of Capitalism Is Not Scarcity
The only scarcity applies when you don't have the resources to make them anymore, he says. So we think, our vision of scarcity has been perverted by neoclassicals, analyzing the exception to capitalism and calling it capitalism. The essence of capitalism is the commodity, the backscratcher, the two buck, backscratchers, anybody can,. And that's why I can make a profit out of them. Not elaborate gold thing with diamonds and rubies that only the king gets.
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