----- Original Message ----- From: "Dave Land" <[EMAIL PROTECTED]> To: "Killer Bs Discussion" <[EMAIL PROTECTED]> Sent: Monday, September 20, 2004 4:59 PM Subject: Re: Br!n: some thoughts and quotes.
Gautam, et al, >> When WalMart moves into a community, it sells a lot >> of stuff. It sells a lot of things more cheaply than >> anyone else could do it. This has two wonderful >> effects. It allows people to buy stuff that they >> couldn't otherwise afford (employing more people >> making it, etc.). And it allows them to spend more >> money on _other things_ (again, employing more people >> mkaing it, selling it, etc.) >Typical supply-side tripe. Actually, not. Its fairly standard stuff for ecconomists. We could ask Brad Delong (who is a list member and fairly liberal) but IIRC, I've read stuff of his indicating that productivity growth is the foundation of real, non-inflationary growth. Lets go back a long time, before productivity of farmers was raised: when 90%+ of people lived on the farm and could make just a bit more food than they needed to live. Has farm productivity increases been a good or bad thing? Productivity is the amount of goods produced per labor hour or labor year, not per dollar paid to worker. Doubling the pay to workers, doubling the profits to shareholders, etc. without raising productivity just results in 200% inflation. Doubling productivity at the same time, and there need not be inflation. Dan M. _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
