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Politics : The Trump Presidency -- Ignore unavailable to you. Want to Upgrade?

To: combjelly who wrote (149162)	1/6/2020 9:12:54 PM
From: i-node	Read Replies (1) \| Respond to of 356366

>> and totally discounts all of the other mechanisms that have been shown to exist. Except they haven't. Your position is counter-intuitive. Not innovating yields at best a steady-state of consumption vs. production, with a tad of growth. If you want economic growth you must innovate -- create new products like iPhones in various form factors, with better cameras, etc. Or Beatles albums that have been remixed and remastered for four decades now to accommodate a market hungry for more of something that never existed. Or cars -- because the secondary market gets bigger and bigger. All of it shuts down without innovation. Anything you can do to create more innovation (capital investment) keeps the economy moving, the number of employed people increasing, jobs paying more, all the good things that can happen in an economy. While I studied a lot of economics, my interest was mostly micro and econometrics. I do not claim to be an expert in economics. But you don't have to be. It is intuitively obvious that giving money to poor people doesn't create growth; not now, not ever. I'm not sure how anyone could even think that. That is not to say it could never be the right thing to do. If you were in a great economic environment with high growth and low debt it might make sense to kick some money back to poorer people, even though it would be at the expense of some growth. But you cannot do it until you get growth to a higher level.