DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post

**intorkercet** · 02-27-2006, 08:23 PM

Almost, but not quite right. What drives growth in the economy are investors/risk takers who create new wealth (for both themselves and others). Jobs, wages, products, services are what economists refer to as an external benefit of that pursuit. People don't start businesses to create jobs, the do it to create wealth for themselves, but it creates the external benefit of jobs and goods/services to others nonetheless.

So as long as we comply with the wishes of big business we will get our reward in the end? Before I say anything else I will admit that apart from reading "secrets of the temple" (about the federal reserve) and paying fairly close attention to current events, I know nothing about eonomics.

With that caveat, I guess it seems backward to me. You claim that it is investors who drive the economy but is that really true? Isn't it really the productivity of the other 95% of the people who receive wages that drives the economy?

I think measuring the health of the economy strictly in terms of what benefits owners and investors is a poor idea. The numbers we should be paying attention to are the ones which show changes in the lives of wage workers. After all, investors and multinational corporations have no loyalty to this country. When it comes to a choice between a healthy bottom line or a healthy america, corporations must, by there very nature, follow the money. Workers are the ones who have a stake in the security, health, and well being of our country. They are the ones whose welfare should be measured when deciding what is a "strong" economy.

If we did it that way, there would be no such thing s a "jobless recovery."

02-27-2006, 08:23 PM	#19
intorkercet Join Date Oct 2005 Posts 499 Senior Member	Almost, but not quite right. What drives growth in the economy are investors/risk takers who create new wealth (for both themselves and others). Jobs, wages, products, services are what economists refer to as an external benefit of that pursuit. People don't start businesses to create jobs, the do it to create wealth for themselves, but it creates the external benefit of jobs and goods/services to others nonetheless. So as long as we comply with the wishes of big business we will get our reward in the end? Before I say anything else I will admit that apart from reading "secrets of the temple" (about the federal reserve) and paying fairly close attention to current events, I know nothing about eonomics. With that caveat, I guess it seems backward to me. You claim that it is investors who drive the economy but is that really true? Isn't it really the productivity of the other 95% of the people who receive wages that drives the economy? I think measuring the health of the economy strictly in terms of what benefits owners and investors is a poor idea. The numbers we should be paying attention to are the ones which show changes in the lives of wage workers. After all, investors and multinational corporations have no loyalty to this country. When it comes to a choice between a healthy bottom line or a healthy america, corporations must, by there very nature, follow the money. Workers are the ones who have a stake in the security, health, and well being of our country. They are the ones whose welfare should be measured when deciding what is a "strong" economy. If we did it that way, there would be no such thing s a "jobless recovery."
	Quote