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

To: combjelly who wrote (149182)	1/6/2020 11:28:29 PM
From: i-node	Respond to of 356415

>>At a very basic level, you are ignoring population growth. No. That is the “tad” of growth i mentioned. And of course an individual's consumption is steady. Unless there is innovation. And the more innovation, the greater his consumption. People starting new business? Like if i own a McDonald’s and a Burger King parks next door, there is automatically demand to guarantee each a healthy income. Well, it doesn’t work that way. They both grow if there is competition, which promotes innovation. One installs a drive thru window and suddenly both do. One buys an ice cream machine and the other does. In Marketing Management it is known as the “wheel of Retailing.” I appreciate that your background is not in business which leaves gaping holes in your knowledge of economics. But investment and innovation drive the process. Not consumption. Consumption is not what creates growth. Steve Jobs made this point efficiently. Before Apple produced the iPhone no one needed a smartphone. Most couldn’t have envisioned a need for it. Today, almost half the people in the world carry smartphones. None of that would have occurred without the innovation. The first I heard of cellphones was in the late 70s when I was a small part of a project, “all hands on deck”, to work on a frequency plan for “cells” over the entire country. We sure as hell weren’t thinking about internet services at that time. Since that time I probably bought 50 cell phones for me, my kids, and others. Each a little better than the last. None of it works without ever increasing innovation and the necessary innovation. Who the hell would have ever thought about 10 TB undersea communication lines 30 years ago? Would that be happening today based on mere consumption? Of course not.