Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: elmatador who wrote (45122)	1/22/2004 10:35:54 PM
From: Maurice Winn	Read Replies (2) of 74559

Actually, there are very special things about the USA and it's not just a bunch of resources. If resources were such a big deal, Japan would be poor. So would Switzerland. So would Luxembourg and Germany. Look at Singapore - hardly a resource rich country. The correlation between wealth and natural resources is weak, especially these days when value is in things which take little in the way of resources. Even a car, which is a very material object, has nearly all its value in the design and technology. The material cost is a very small part of the total cost. When you get to computers and software and service industries, resources disappear in the cost of the product. The USA is very special in labour laws, securities laws, property laws, freedom laws, the political will to back them and a lot of other things. The "natural" size of the USA is still to be found and will be set by the political will and attitudes of the people of the USA, not by their resources, population or geographic size. Mqurice

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