Dutch Central Bank Sale Announcement Imminent? Message Board

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Politics : Dutch Central Bank Sale Announcement Imminent?

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To: sea_urchin who wrote (17724)	3/31/2003 8:33:54 AM
From: mcg404	Read Replies (2) of 81011

Searle: <Time will tell whether an economy which is mainly based on services eg medics, lawyers, financial services etc and little industrial production can survive over the long-term.> Do you doubt the eventual answer? Or only the time-frame in which it gets delivered? 'Services' can be made to sound like a value-added activity when you speak in terms of high status occupations like doctors, lawyers, bankers - but the reality is, as someone else has already cleverly put it, 'can you build wealth in a society by doing each others laundry?' (And I won't even touch the whole issue of why the US society is physically unhealthy (obese, sedentary, etc) and managing their financial affairs (personal, corporate and government) with such recklessness if they have access to so much high paid medical and financial talent.) But it is so easy to mistake economic "activity" for an economically productive activity. Am I the only one who believes Bastiat 's broken window argument? econlib.org John

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