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"Outside the Economic vacuum" - as if economics somehow represented empty space?

Terminology aside, I am very much considering the whole picture.  Productivity gains are easiest to measure economically, but what it boils down to is quality of life, just as I mentioned in my post (and you failed to address in your argument).

That companies are reaching record profits is a good sign.  It means productivity is making big gains.  It also means there is an increasing space for competitors to move in and compete on price, to the benefit of consumers.  In part, but far from only, these profits are achieved through a shift of manual labor to developing nations.  This shift also brings with it a tremendous opportunity for these developing nations, their unemployment is lowered and their economies (and by extension their quality of life) grow.

Wealth is not merely being shared across the world due to globalization, it grand total is increased.  Trade is not a zero-sum game.

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Ideals are the ultimate motivators. But also the greatest causes of destruction.

A tip: Don't get too high on your ideals.

by cge on Mon Apr 17th, 2006 at 07:57:56 PM EST
[ Parent ]

Wealth is not merely being shared across the world due to globalization, it grand total is increased.  Trade is not a zero-sum game.

True - the problem is that it is being increased without being shared. Using average GDP numbers is becoming increasingly misleading in a number of countries as the increase seems to benefit only a happy few. Case in point the USA where median wages have been, at best, stagnant in the past 5 years - and have increased little in the past 30.

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Tue Apr 18th, 2006 at 04:40:53 AM EST
[ Parent ]
No - the wealth increase is actually shared through globalization, one example of which was the labor shift process I mentioned in this thread.

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Ideals are the ultimate motivators. But also the greatest causes of destruction.

A tip: Don't get too high on your ideals.

by cge on Tue Apr 18th, 2006 at 08:51:10 AM EST
[ Parent ]

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