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Investment Analysis Clubs / Macro Economic Trends and Risks


Subject:  Re: Here's your chance: Balance the Fed budget Date:  1/3/2007  2:05 AM
Author:  TiRien Number:  200228 of 603176

Under perfect comepetition there are no profits

Maybe not, but who needs profits anyhow? (yes I am aware that the present capitalistic economy needs them)

What I want is a standard of living that is as high as possible.
I would rather miss out on the profits and have more spare time.
If no profits would mean that I only need to work 2 hours a day, I'll gladly do without them.

This IMO is what often creeps into this kind of discussions. The definitions of economy, wealth, money, standard-of-living etc gets all mixed up and people start argueing even though they fundamentally agree.


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