Skip to main content

View Diary: An Economy cannot be based on CONSUMPTION (285 comments)

Comment Preferences

  •  I'm impressed with you sense of superiority (3+ / 0-)
    Recommended by:
    xrepub, NoMoreLies, rcbowman

    and would like to subscribe to your newsletter.

    The diary isn't perfect, but there is a sense in which the diary, and especially it's title, is absolutely correct.

    I agree that demand needs to be stimulated in order to increase investment, production and employment. However, if we only stimulate those things outside the US - where a lot of our consumer goods are now produced - we aren't going to create much more than some additional minimum wage jobs at WalMart to stock shelves and do the checkout (that isn't already automated).

    You're welcome to consider economics in simplistic terms like supply-side and demand-side, and cheer for the team you identify with, but the economy is a little more complex than either of those terms recognizes.

    We need both increased demand - which comes simply from putting more money in people's pockets - and increased domestic production of goods we can export to other countries, or alternatively balance trade by more domestic production and less consumption of imports.

    An economy which is increasingly tilted to the service sector is an economy which isn't sustainable and will not provide full employment for its citizens.

    If my thought-dreams could be seen, they'd probably put my head in a guillotine

    by badger on Thu Sep 29, 2011 at 11:11:22 AM PDT

    [ Parent ]

    •  No, the diary is absolutely wrong, especially (0+ / 0-)

      its title.

      Demand = consumption.

      Ok, so I read the polls.

      by andgarden on Thu Sep 29, 2011 at 11:14:19 AM PDT

      [ Parent ]

    •  My point precisely - missed by most (1+ / 0-)
      Recommended by:
      rcbowman
      I agree that demand needs to be stimulated in order to increase investment, production and employment. However, if we only stimulate those things outside the US - where a lot of our consumer goods are now produced - we aren't going to create much more than some additional minimum wage jobs at WalMart to stock shelves and do the checkout (that isn't already automated).

      And the focus on CONSUMPTION - too often on throw away goods is NOT beneficial to the planet or our future.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site