George Gilder - Forbes ASAP Message Board

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Technology Stocks : George Gilder - Forbes ASAP

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To: aknahow who wrote (5210)	11/2/2000 5:05:50 PM
From: DWB	Read Replies (1) of 5853

The depth of your analysis is amazingly thin. If everyone made a "Million dollars" what would that do to supply and demand? Think it might cost more for a loaf of bread, new VCR, or car? Prices would skyrocket for EVERYTHING. Who is going to work at McDonalds if they were making a million dollars a year, or do you think most of them like working there? The major problem with your analysis is that it's totally static, and the situation would be nothing but dynamic. You can't introduce a stimulus like "everyone makes a million" and then assume that everything else stays the same except that we all buy more stuff. The reason a "Million dollars" a year impresses us, is because of it's relative rarity. If everyone made a million, the value of those dollars would be highly devalued. What you are proposing is what drove the old Soviet Union economy into the dustbin of history. Replace dollar with ruble in your analysis and you'll start to get it. I hear Carl Marx thought it was a great idea too... DWB

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