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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: willcousa who wrote (7246)	9/22/2003 10:42:09 AM
From: Sam Citron	Read Replies (2) \| Respond to of 25522

productivity gains are responsible for all real growth I disagree. You can have real growth with no productivity gains whatsoever. Or you can have tremendous strides in productivity with no accompanying real growth if, for example, the less productive workers who are laid off can't find other jobs and therefore can no longer afford to consume very much. Without sufficient aggregate demand those extra goods produced just sit in inventory and do not boost growth. Productivity gains may produce real growth as long as displaced workers can find productive jobs elsewhere. Otherwise, the best we can settle for may be a Scandinavian form of socialist state.