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Originally Posted by TheBigDog
Fortunatly economies are not based just upon physical resources. An once of gold has a certain value in raw form. But is much more valuable when engineered into other forms. The value of engineering is endless. There is also the economies of services, recreation, entertainment. These are also limitless. And finally, the value of ideas. Many of the most valuable products of 20 years from now do not even exist today. Look at a movie made just 15 years ago and show me a cell phone. Or laptop computers. Humanity will constantly exceed the predictions of pessimistic economists. There will be low points. But humanity will get past them and continue to exceed the previous generations.
Bill
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Excellent. I agree.
Economies also run on making a more valuable thing from a less valuable one.
