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

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  •  Except the growth is non-productive (2+ / 0-)
    Recommended by:
    NoMoreLies, Superpole

    Much of the 'growth' happens in insurance and administrative functions - 'overhead'.  That does not create real wealth.  Real wealth is adding VALUE - creating goods or performing a needed and valuable service.   Fixing a broken bone adds 'value' - filling out paperwork to deal with that is simply an overhead cost associated with the service that produced the real value.

     

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