AggregateDemand
Jr. Member
Posts: 1,873
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« on: April 02, 2014, 11:38:15 PM » |
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Even without minimum wage protections or agriculture subsidies, an unskilled laborer could purchase a loaf of bread with about 20 minutes of labor. Clothing and water are also relatively cheap and abundant.
Human desire is unlimited so we will always deal with "scarcity", but that doesn't mean goods and services are actually scarce relative to our needs. Quite the opposite, in fact.
Citizens of the developed world are economically stagnant because they've ruined their real estate sectors. Shelter is a basic human necessity, but housig costs continue to drag down all classes of people, except the elites.
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