: : : Suppose we live under a system such as you described. How would this system handle the following:: : : 1) A talented musician comes to town. The theater has 100 seats. 200 people want to go. How should this scarce good be allocate?: : Two performances? A.bigger theatre? Use amplifiers so people can hear te concert from outside?
: *** If we had unlimited resources we could do these things. Alas, the Earth is limited. Who will build this bigger theater, and from where will the materials come?
I meant relocate to a bigger theatre if there was one available.
If the performer was unavailable for a second performance, then there could be an amplifier put inside, so people could wait outside and listen - or how about using tv cameras?
: : : 2) We need somebody to weld steel beams on a high suspension bridge. This job requires great skill and is very hazardous. Taking this job pays the same wages as a soft job in a public library. Who will take the job? Assume that you have to work with limited resources.
: : Someone who would enjoy the challenge?
: *** It would be nice if such a person always existed. But assume for the moment that this is a job that nobody likes. (There are many such jobs in real-life).
I have no idea. Unfortunately, i'm sure there would be enough people desperate enough to take the job (or any job) who need money.
If a person needs the suspension bridge enough, they'll come up with an ingenious solution. (A trade, tax relief whatever)
: *** I myself think it's okay to trade things. But how would you feel about the following trade?
: ***"The "worker's council" of the local diamon mine is having production problems. A skilled engineer can solve them, in fact, he can double the mine's output. He offers to work extra nights on a solution in return for 10% of the production increase...nearly $1 million in diamonds.
: Would you allow this "fairly traded" exchange?
No, i'd complain about the price, ha ha.
It would depend on how badly the council wanted the problems solved. I wouldn't allow the trade.
I'd ask the engineer to simply fix the problem. (and pay the going rate)Presumably the mine is already giving enough to live on, so who NEEDS more?
None.
