Well, I would contend that maintenance is a form of wealth generation or at least protection. If you don’t do the maintenance, the system stops functioning pretty soon and then you have a serious loss of wealth.
I find it quite interesting that lots of posters here are quite willing to post all about how government never creates wealth, but are shy about posting their definition of what is and is not wealth creation.
If they can’t define what they’re talking about, how can they be so positive the government isn’t doing it?
What is wealth? Again I will go with Adam Smith in that when you get done, it generates more wealth. It is not the item it self but how it is used. Computers can generate more wealth but can also generate more bureaucracy.
It is also related to maturity of a family or govt. When you have easy wealth available, you will spend it foolishly, it is the nature of things. One generation earns it, the next spends it.
I have studied farm records for 30 years. The one bottom line I have is cash flow affects mgt more that mgt affects cash flow. If cashflow is tight I make better decisions, IF I win the lottery tomorrow, I make poor decisions. Which leads to the next discussion, what is the difference between wealth and cashflow?
What is wealth? Again I will go with Adam Smith in that when you get done, it generates more wealth. It is not the item it self but how it is used. Computers can generate more wealth but can also generate more bureaucracy.
It is also related to maturity of a family or govt. When you have easy wealth available, you will spend it foolishly, it is the nature of things. One generation earns it, the next spends it.
I have studied farm records for 30 years. The one bottom line I have is cash flow affects mgt more that mgt affects cash flow. If cashflow is tight I make better decisions, IF I win the lottery tomorrow, I make poor decisions. Which leads to the next discussion, what is the difference between wealth and cashflow?
“I find it quite interesting that lots of posters here are quite willing to post all about how government never creates wealth, but are shy about posting their definition of what is and is not wealth creation.”
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Simple time constraints, not shyness.
Personally, I don’t have the luxury of time to engage in an extended exchange on economic theory and application, or for that matter any number of subjects.
Maybe one day, with Mavis Bacon lessons, or better yet, Dragon Naturally Speaking.....