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To: 2ndDivisionVet

Only real wealth creators are:

(1) Mining (includes oil & nat gas)

(2) Manufacturing (enhances value of raw materials)

(3) Agriculture (from seed & fertilizer to abundant crops)

(4) Applied research (includes new drugs, useful software, scientific inventions useful in market place, etc)

There would be no service sector without above (4) items.


8 posted on 11/04/2017 10:41:57 AM PDT by entropy12 (LEGAL immigrants are sponsored by a relative. Almost all are low skill & low wealth. So stupid!!)
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To: entropy12

If I take something to market at a certain asking price.
Buyers A, B & C show up. Buyer A will buy at the asking price. Buyer B says, “Hey wait a minute I really need that I will buy it at 2 times ‘the asking price’!.” Buyer C says, “Not so fast! I really really need it! I will buy it at 3 times ‘the asking price’!.” I sell it to C has “additional wealth” - 3 times the ‘asking price ‘ minus ‘ the asking price’ = “additional wealth” been created “ex nihilo” by the market or not? If it has then there is a 5th category - free market!
That makes your description free market capitalism, your 4 categories makes your description more a form of physiocracy.


15 posted on 11/04/2017 11:02:09 AM PDT by Reily
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