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42 sats \ 3 replies \ @Scoresby 29 Jul \ parent \ on: Minimalism is Pro-Social econ
but why would production ever increase if not for demand?
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0 sats \ 2 replies \ @Undisciplined OP 29 Jul
Technological advancement and specialization from trade.
More stuff being consumed isn't the same as more demand. Hold a demand curve fixed and slide the supply curve to the right.
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47 sats \ 1 reply \ @Scoresby 29 Jul
but, there is no reason to advance or specialize unless one expects people to demand what you will produce.
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0 sats \ 0 replies \ @Undisciplined OP 29 Jul
Profit maximization is the reason. If cheaper inputs can be obtained or a more efficient conversion into outputs is discovered, profits increase and production expands.
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