Service-only economies only work if the population NEVER needs any
manufactured goods, at which point, your lack of something to trade to the
producers of such goods in exchange for them causes poverty among the
people in the service-economy nation because they cannot buy things they
need.
Selling them services is not a good option because there aren't enough
services we can offer that they (manufacturing countries) cannot do
themselves. Countries like China and India are now producing highly
trained and skilled engineers and scientists, so the silly idea that the
countries like the USA that gave away our manufacturing can survive doing
the 'brains' work while outsourcing the 'hard work' work is crumbling fast.
You have to make something to be wealthy. The Chinese are smart enough to
know that, which is why they've built their incredible manufacturing
capacity, which is rapidly making China a rich nation.
--
Chris Crawford
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On 12/5/11 3:19 AM, "Andrew Fildes" <afildes@xxxxxxxxxxxxx> wrote:
>Well, you could construct a model where the orderers and flippers were
>consuming burgers during their non-working hours.
>That might work.
>In fact it could be a suitable analogy for a tertiary economy as a whole.
>Andrew Fildes
>afildes@xxxxxxxxxxxxx
>
>
>
>On 05/12/2011, at 4:30 AM, Chris Trask wrote:
>
>> You cannot have a viable, stable, competitive economy when half of
>>your
>> work force is processing online orders for hamburgers that are flipped
>>by
>> the other half of the work force.
>
>--
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