10/19

It's still hard to make full, accurate judgements on what the best action is in any given situation.

Trade & Specialization:
3 factors of production
1) Land
-ANYTHING physically here irrespective of human action.
2) Labor
-Hunks of flesh. Stock of human beings available. No learned skills/talents included.
3) Capital
-Something that must first be produced before another thing can be produced. (ore is land, iron is capital)
--Two kinds, physical and human.