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To: Skeeter Bug who wrote (129447)	8/1/2001 2:16:18 PM
From: Dave	Read Replies (1) \| Respond to of 164684

Yes, you're right; I was incorrect when I said that the hedonic pricing is effective, no matter how it is applied. Of course, productivity should only be measured by inputs and outputs. Dave

To: Skeeter Bug who wrote (129447)	8/1/2001 4:00:34 PM
From: Don Lloyd	Read Replies (1) \| Respond to of 164684

SB - dave, what economic productivity good does a computer contribute if it doesn't increase the dollar output/hours worked ratio? is the point of our economy no longer to make dollars? ... While it doesn't invalidate your points, the point of the economy has nothing to do with dollars and trying to use dollars as a measurement basis can be misleading even beyond all the fraudulent calculations. The real point of the economy is to increase the standard of living in terms of the quantity and variety of goods and services that can be consumed as a result of a fixed amount of goods or services supplied or produced. My standard of living has unequivocally increased from yesterday if, with everything else equal, I can buy two apples today for the same amount of labor that bought me just one yesterday. This can be the result of either a higher value being placed on my labor or an increased productivity for apples, or both. As an analogy to the computer, pretend that tonight I am going to invent a machine to cost free convert interstellar space to apples and automatically replace an apple in every refrigerator in the world whenever it is consumed. If an apple costs $1 today, and 1B are sold every day, after tomorrow the economy will be smaller in dollars by $1B, but more apples will be produced and consumed every day. This will be a real increase in living standards and productivity, but apples will have dropped out of the dollar economy completely, having become free goods. Regards, Don