Re: grasp the what???

Posted by Mike (WA) on May 09, 2005 at 08:17:55 from (209.213.153.111):

In Reply to: Re: grasp the what??? posted by paul on May 09, 2005 at 06:26:18:

Paul, your assumption only works if we believe that the developed countrys can continue to increase their consumption, without end. When you think about it, much of what we "consume" these days is foolishness- junk that we don't really need, just "want". If the families with $100,000 incomes "never have enough money to go around", why aren't the families with $15,000 income starving to death? Because they adjust their consumption to necessities. And if China is willing to produce these items for less, we can't hope to keep producing the same things more expensively. It doesn't seem like a "zero sum game" now, because we still have a lot of folks with enough extra money to buy the luxuries- but as incomes adjust, as they must, there will be a smaller and smaller pie to cut up into more and more pieces.

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