Happy 100th birthday Federal Reserve

[Kasz216]

hysterianut said:

Kasz216 said:

No.  Your wrong.  World wide wealth is higher everywhere.

You seem to not understand what wealth means.

If everyone has higher purchasing power... everyone has more wealth.

As everyone can afford and has more stuff.

Stuff = Wealth.

how

 

if a chinese person can only buy 50 times less of what an american can buy then how is this more.

 

if you are saying people have more food,energy and other basic stuff then partly yes.

 

but you are discounting human pschology,when industrial revolution started people basic needs got easily covered but their aspirations also increased.

 

its like giving a person 10 gallons of milk when he can drink only one.also life isn't about survival but progress and hapiness.

 

if you are stagnating an individual at basic needs then why to live.

Because he could buy 100 times more then he could before.

Human psychology has nothing to do with wealth, or the definition of wealth.

Silly marxist interpretations don't really play out when it comes to actual economics...

and even marxist's wouldn't be so childish as to assume that it's always a 1-1 direct thing.

 

and no.... people can afford WAY more then just basic needs.

 

Way more people survive now in the past... sure... and way more people can afford way more luxuray items too.  We're in quite the luxuary item boom.