30th
Wealth and economics revisted
Still been thinking often about wealth and economics. Today I was thinking about the effect of inefficiencies on the economy versus wealth. It would seem that the macro effects of a crappy car (one that needs a lot of extra work done to keep it running) increases the GDP for an economy because it creates more jobs to keep the crappy car running. This would seem to ignore the time and money that could be spent on other things rather than continually fixing a crappy car. This is to me a situation that is “good” for the economy (though probably not really as it ignores other things that could be done with that money) but bad for wealth (I.E. less free time - see old post).
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I could see people decrying a new car that came in and required less maintenance under the false notion that it’s good for the economy. Maybe this happened with the zenith of the Japanese car companies but I don’t recall
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There was a guy on Clark Howard (consumer advocate radio guy) the other night that was in the television repair business and basically said that the repair rate for new electronics is so much lower that many in that business of repairing have had to move on…
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I’ll write more about this over time (wealth vs the economy andmoney etcetera) as I’m still finding myself drawn to it…
