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Re: Keynesian Chickens Coming Home
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sczech
misallocation of resources
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Jan 31 08 3:12 AM
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Regarding the misallocation of resources emhasized by HOG: This is indeed a great tragedy. However, we should not forget that the way our society is structured, the poor live of the crumbles left by the rich. So in order for the poor not to starve, it is absolutely necessary that the middle class and especially the rich waste resources on a gigantic scale. That waste provides for jobs for the masses. On a somewhat larger scale, the same argument is being made that the wasteful US consumption is really a blessing for the world since it provides for jobs and income in the poor countries.
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