Studebaker Review, Part 2: the Consumption Fallacy

found online by Raymond

From libertarian Michael A. LaFerrara at Principled Perspectives:

1– Consumption, as such, is not a primary factor in the economy. Production and trade are the primary factors. Consumption is the end goal of economic activity. Consumption is the motivator. But it is not the driver. Production is the driver. It’s not enough to need or desire something to consume. Need and desire won’t bring the non-existent consumer products into existence. Only productive work—reason-guided physical labor—can bring consumer goods into existence. To consume, we must work so we can consume what we created through our work—or trade our work product for the product of others’ work.

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