[PEN-L:3938] Re: Time well Spent

["Henry C.K. Liu" <hliu@xxxxxxxxxxxxxx>]

The Dallas Fed has a home page where material can be downloaded.

http://www.dallasfed.org/start.html

This type of research is pure propaganda.
No doubt that free market can produce goods.
But increasingly, the quality of life is not only a function of collecting
things.  The intangibles of a good life, privacy, space, good service,
individual attention, etc., are all disproportionally more expensive.
We now pay for drinking water from the store.  We now must hve air
conditioning because the windows open on to a solid wal only 15 feet away.
Most people have to drive more than 90 minutes to work each way.  Most
people mortgage payment is ten times what it was a decade ago.
We are just digging a hole in the groud faster.
Beside, the real lie is that there are really no free markets.  There are
some 50 models of automobiles on the market , all made by about 5 owners,
sharing the same parts made by cheap labor by people who never will own one
of the cars.
What it means is that 5% of the worlds population in the rich markets
consumes 70% of the good produced.
There are hundreds of million of people for whom a coca cola will cost one
day's pay.
Henry  C.K. Liu