Contradictions in capitalism???

COLTRANE · (#1 (**permalink**))

OK, why do you work? So you can get to money to purchase necessities. But those who purchase the necessities have to have wages hire than the necessities or equal to it! But those who make necessities cannot purchase it! So how do those who make necessities buy them?

COLTRANE · (#2 (**permalink**))

and whats your undeline on that?

umbrarchist · (#3 (**permalink**))

The 2nd industrial revolution changed economics after the death of Marx. Henry Ford was called a traitor to his class for the $5 day. The workers could afford his product and for many it wasn't an actual necessity. When introduced the Model T was $850 which was half the price of most cars at the time. Rich men's toys. By the early 20s the price came down to $300. Not quite Marxist theory and not what most capitalists expected at the time. Consumerism was born.

umbrarchist

umbrarchist · (#4 (**permalink**))

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Those who find the diamonds can't afford them once they are put on the market.

But why are diamonds valuable? Why do people want them? They can't do anything with them but show them off. Their value is a psychological delusion. They are not even rare. Debeers controls the diamond trade and the marketing. If women didn't get emotional about the junk the diamond market would crash. General Electric developed a way to make artificial gem quality diamonds and came to some agreement with DeBeers not to make them.

http://hmm-law.com/cases/case012.html

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Man figures out how to make diamonds then man doesnâ€™t do anything with the discovery? Why? Letâ€™s look at the facts. Right after General Electric learns how to synthesize a diamond (which by the way wins a Nobel Prize for P.W. Bridgeman of their company) G.E is interviewed about the details and they say â€œWeâ€™ve only learned how to grow industrial quality (not sufficient quality to be cut into a gem for a piece of jewelry but rather to be used for drill bits, semi-conductors, and such).â€? It would be 16 long pain staking years before man would not only walk on the moon but create a gem quality diamond the likes of Mother Nature. G.E is interviewed again and I quote â€œWeâ€™ve conquered the next hurdle; we can now produce transparent gem quality diamonds in an attractive size. Thereâ€™s only one problem. They cost more to grow than to find, cut and polish.â€? End of story? Not hardly! Another quarter century would go by when a little company called Gemesis Corporation would raise their hand and say â€œI think I can do it. I think I can figure out how to grow a diamond cheaper than it costs to find one.â€? The problem was very few people were listening and those that did just scoffed. â€œIf General Electric in partnership with DeBeers canâ€™t figure out the secret to growing diamonds at a profit thereâ€™s no way some little start up company is going to figure it out!â€? Know what?! THEY WERE WRONG! Flash forward to present day. Not only has Gemesis figured out how to grow white diamonds but theyâ€™ve figured out how to grow the tremendously expensive fancy colors--the blues, canary yellows, and oranges and even the million dollar per carat reds! I know what youâ€™re probably saying, â€œFred, if this is true why isnâ€™t it in all the newspapers, on TV and radio?â€? Well, the reason is only now have companies like Gemesis grown enough raw diamonds to be able to meet the inevitable demand onslaught! It makes no sense to go public when you donâ€™t have enough supply to meet the demand.

umbrarchist