.
>Profit is not an incentive to make good stuff at cheaper costs though
>(unless this is the only way to secure much larger sales.) It is
>competition that does that.
Competition is motivated by a desire to make a profit.
>Competition reduces profit margins, reducing input costs can be a temporary
>fix. Reducing quality is the most obvious way of reducing input costs
>(aside from reducing labour costs.)
Unfortunately for the competitor who reduces quality, another competitor will figure out a way of making the same thing better. Just ask GM, Ford, and Chrysler about Toyot and Honda.
..
> >>.
> >
> >No. There is no market system without the profit motive. What I would
>dispense with is private property. There would be profits retained by the
>workers, if their firms made any profits.
>
>I see, so instead of private property, the surplus value would accumulate
>as collectively-owned property of workers? I assume this system would only
>apply to the means of production though, not personal property?
Yes.
jks
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