Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: i-node who wrote (945992)	7/9/2016 1:39:05 PM
From: combjelly	Read Replies (1) of 1575354

No. Without consumption, production is wasted. Period. If there isn't a market, which is driven by consumption, it doesn't matter what you produce. Just ask buggy whip manufacturers. Why not read a book on economics and stop embarrassing yourself. Because this is really basic stuff. Don't get me wrong, production is important too. But without a market, it is useless. If you want to create growth you incentivize capital spending and R&D (innovation forms the seed for economic growth) which lead to increased production and sustainable economic growth. That is only half of the equation. You also need consumers with money. It is why tax cuts that mainly benefit the wealthy are such poor economics stimulants. Even Milton Friedman, who has been proven wrong on so many things, realized this. Granted, he thought consumption, and hence demand, was more of a constant, but he at least didn't dismiss it totally.

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