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Old 03-20-2013, 08:07 PM   #29
BucEyedPea BucEyedPea is offline
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Quote:
Originally Posted by LoneWolf View Post
We have not produced more goods because we have less manufacturing facilities that produce goods. Therefore, PRODUCTION is lower. On the other hand, the manufacturing facilities that are still producing are producing more products with less workers. Therefore, PRODUCTIVITY is higher.
That too, but none of those are my real point. We print money instead is my point. That's what appears to be an increase in standard of living but it isn't. Even stock market rises are not based on real increase in value.

Quote:
FED-printed money doesn’t make Amazon or any other company a more productive company. It may cause one company to produce more, but it will be at the expense of some other companies producing less. The aggregate economy cannot be made more productive by printing money. More production of goods that people want takes land, labor and capital goods in combinations that produce the desired goods. This is the work of a free market economy, not a central bank or a government. Keynesians not only fail to acknowledge this truth, they deny it.
Michael S. Rozeff is a retired Professor of Finance living in East Amherst, New York. He is the author of the free e-book Essays on American Empire: Liberty vs. Domination and the free e-book The U.S. Constitution and Money: Corruption and Decline.
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