Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Raymond Duray who wrote (16087)	3/4/2002 3:09:51 PM
From: Maurice Winn	Read Replies (1) of 74559

The productivity miracle is independent of GDP growth. Life is better when we have a 3G CDMA-powered mobile cyberspace link running at 2 megabits per second. That's what matters. The accounting and economics blarney is irrelevant to that process [all that matters is that the companies producing the great gadgets and services make a profit]. Maybe GDP will shrink for 100 years as we all become supremely wealthy thanks to the technological revolution and give up working. Preferring to go troppo and laze around listening to calypso, basking on a beach. When we want a gadget, we'll just order it via our cyberspace link and hey presto, it'll show up "just in time". We don't need a GDP. But that's a little way away. The immutable [more or less] standard of measure is an hour of somebody's time. Each person has an "Hourly Rate" at a particular time. That's their value. Uncle Al could standardize his $ on the "Hourly Rate" of people rather than some basket of goods and services. That would make more sense than standardizing it on gold or a consumer price index. The Q will of course be the currency and Uncle Al's millennium manoeuvres will be history. Mq

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