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Politics : Formerly About Advanced Micro Devices

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To: tejek who wrote (270332)	2/8/2006 10:47:44 PM
From: TimF	Read Replies (2) of 1573221

There are finite dollars in the world. Finite dollars isn't an issue. Money supply increases. Of course if you just increase the money supply without increasing production you get inflation. Finite real wealth really isn't the issue either. Real wealth also increases over time. Also if the rich spend more, than more of their dollars becomes available to others. If the rich sit on their wealth its deflationary and slows down the economy. If they spend and invest it is food for the economy. Perhaps your problem is not with too much spending but too much disparity in wealth. Those issues are related but they are not the same thing. Another example......its like the US consuming 25% of the world's resources with only 4% of the world's population. The US produces over 20% of the worlds wealth. Its not unreasonable that we consume a similar percentage of certain resources. More freedom and economic growth will not do the trick.......at least not alone. The will in the long run increase the absolute wealth of most people. However if your concern is not absolute wealth but relative wealth, or in other words disparity of wealth then you might be right. Capitalism has not been able to cure us of that underclass. Because the underclass is defined in relative terms. If the economy as a whole had 100 times as much real wealth and the underclass had 20 times, than most individuals, including most individuals in the "underclass" would be financially better off, but official statistics would show a large underclass and a greater disparity in wealth. That is just not true. We have been a capitalist country for centuries and we continue to have people starve. There is no great degree of starvation in the US. Even the very poor generally don't starve and often are financially as well off or better off than doctors or other relatively upper class people in the poorer third world countries. I do not want to wait til the capitalist system kicks in after we have depleted a resource to the point where it is in short supply. The market might not predict future shortages but it generally does at least of good of job of anticipating future decreases in supply or increases in demand as any political process would do. Anticipated future shortage put upward pressure on current prices. You assume a great deal......and I suspect that will make an ass out of you.....probably long after you are dead. Global oil reserves are not increasing; in fact, they are being revised downwards. Official total global oil reserves have continued to increase. You might not trust those official figures. Maybe you have good reason not to, but than you should develop the argument that resources have already declined rather than just saying that they have when by official figures they have not. Whatever the current reserve situation is, they will go down at some point, but "resources" means far more than just conventional crude oil. Eventually conventional crude oil will probably play a an insignificant role in our energy use. That fact doesn't imply that our total energy use will be lower or that the the value of human production will be lower. Tim

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