interesting.

On 10/30/07, Gruss Gott <[EMAIL PROTECTED]> wrote:
> So let me try this one on you - tell me what you think:
>
> What if this 19th century "wealth effect" was happening today except
> in the 1st World countries?
>
> Remember the concept: due to abundance of basic needs items (food)
> there is less incentive to develop advanced methods of production
> (which is basic supply and demand).
>
> What if a significant number of 1st World workers, content with their
> modern basic needs items (houses, boats, and cars), have decided that
> they don't need to work so hard?  And that their kids don't either
> because, hey, there are plenty of jobs.
>
> In the meantime 3rd World workers, seeing the relative wealth they
> lack and the path to get it (free trade!), get hungry and try to grab
> the brass ring.
>
> What do you think the effect would be and is this happening?
>
> 

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