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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (4693)	6/11/2001 2:32:19 AM
From: Maurice Winn	Respond to of 74559

<...prior to Adam Smith, people looked on trade as a zero sum game. Smith was the first to articulate the concept that both parties to a transaction felt that they had received an advantage, and probably had.< Every buyer gets something better than the money they parted with. Every seller, gets something better than what they parted with. Every transaction creates wealth out of thin air. [Though sometimes people make mistakes and buy a lemon - but those are so few they are trivial]. That's why buyers buy and sellers sell and the world is getting better and richer. The bigger the gap, the bigger the wealth creation. We now have very lowly paid people around the world able to sell to rich people. That creates a big increase in value, especially when specialisation is thrown in. So, some people produce CDMA phones, which you, me and Dumb DAK wouldn't have a clue how to make. But you give them a few bucks and get a huge benefit. Bingo! Instant wealth. That's the basis of The New Paradigm and why the world is going to keep getting better and richer faster and faster. There are now 5 billion people doing more than struggling for existence. Millions of them are smart specialists doing stuff the rest of us don't understand. It's not optimism. It's simply fact. Mqurice