A Malaise Speech for the Current Time

[Kinser79]

(05-31-2017, 07:07 PM)pbrower2a Wrote:

(04-07-2017, 09:53 AM)Kinser79 Wrote: I would argue that if your intention is to preserve the environment then you should want to limit deficit spending.  In short deficit spending is consuming resources now at the expense of future generations.  Therefore, the best method would be to limit federal revenues to primarily tariffs.  Which will also limit consumption by raising prices on imported goods, not to mention providing greater employment in manufacturing here.

We are going to see an economy much more based upon services and less upon the production of material goods. Food and fuels are the only physical commodities that one can expect to keep up in demand with a growing population.

Here's the model: figure that the growth in the economy will largely be in intellectual property. Sebastian J. Bach* is a musician and makes much music -- let us say fugues. Adam Ansel is a photographer and takes lots of photos of Yosemite. Sebastian J. Bach can't get enough of Adam Ansel's photos... and Adam Ansel loves Sebastian J Bach's fugues. Because they can't cheat each other by stealing intellectual property or cheat the tax authorities by bartering, they can pay in credits of some type, and the taxing authorities get their cut. But there are no physical copies.

Is wealth created when the creative exchanges happen? Yes.

*No, I do not refer to the original creative people...

PBR...I keep hearing about this supposed service economy that is going to arise at some point.  Strangely it still hasn't happened yet.  I'd argue because wealth (not money, wealth) can only be created when one creates goods.  Any other form of economic activity must therefore consume wealth.  In short without industrial production (somewhere) there will be no consumption of services.