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Politics : Ask Michael Burke
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To: Skeeter Bug who wrote (112121)3/12/2008 10:20:54 AM
From: Freedom Fighter  Read Replies (1) of 132070
 
skeeter,

I'm not an expert on these quality issues and GDP, but I think what's happening in many cases is that there are productivity gains IN EXCESS of the average for the country and/or the increase in the supply of money. For some companies, costs and the prices of goods and services are both falling.

The savings are then passed on to consumers as a part of the competitive process (one of the good things about capitalism) - margins more or less remain the same as volumes increase.

So in dollar terms, you may be paying less, but in quality terms you are getting more.

I think there has to be some acknowledgment of quality improvements somewhere, but IMO it shouldn't be in increased dollar terms if people are actually paying less.
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