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URL:  https://boards.fool.com/captain-if-they-were-all-to-make-gadgets-there-24991514.aspx

Subject:  Re: Here's your chance: Balance the Fed budget Date:  1/2/2007  9:02 PM
Author:  mishedlo Number:  200201 of 603176

Captain:
If they were all to make gadgets, there would be no profits in making gadgets.

Dave:
HUH??????? Again, in what universe, and by what logic???

A) What do you refer to as "gadgets"?
B) There are exponentially more engineers that DO NOT produce bombs than there are who do... and you are implying that "there are no profits" for the production of these engineers?

Mish:
By what logic?
By common sense: If there is a profit then competition for profits will tend to drive that profit towards zero over time

A)Common sense dictates that the definition of gadget is irrelevant
B)There is a profit for the production of bombs but only at the expense of taxpayers subsidizing those profits. As for the profit for non-bomb making non-government sponsored engineers, they make whatever they are entitled to so your argument is meaningless. Over time those profits would shrink and we see it now with global wage arbitrage and increasing pressures on the middle class. Again, that is not only what logic would dictate but what is actually happening in practice.

Mish

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