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Politics : Formerly About Advanced Micro Devices

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TideGlider

To: combjelly who wrote (878542)	8/7/2015 12:11:18 PM
From: i-node	1 Recommendation Read Replies (3) of 1570705

>> To them, what drives an economy is innovation and investment. Consumers are irrelevant, despite the fact that over 70% of our economy is driven by consumers. But consumers are a faceless hoard, they would rather worship at the feet of a few. Consumers are not irrelevant, but consumption cannot create growth. The idea of Keynes was that you could stimulate growth in the short term by propping up aggregate demand with government spending. Of course, when you do that the money has to come from somewhere, and when you borrow it there is a downside associated with that. You and others overlook the essence of economics in favor of your beloved Keynes: It is the act of producing that causes growth, not consuming. The very nature of consumption leaves you with less of something than you had before you consumed it, thereby ridding you of as much as you produced. Yes, it is solely investment and innovation that causes growth. Without those things no economy can grow. It can, at best hold its own. Which is pretty much what we've been doing for the last 7 years.

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