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Interesting, but this is possibile, IMHO, only when richness is unrelated to creation of wealth. If you divide the economic system in two part, creation and distribution of wealth, you may come to different conclusion. You create more wealth when you find a new way to produce the same good...

Could you suggest any link? I have the same feeling (I'm a engineer) but no real informations to start with. Any meaningful suggestion? Thanks

The real problem it is that person do not have ten times real income than before, thus spending that income, say travelling or in personal services, create 9 more jobs and all stay better. Think on what people say they would do if they become richer. Often, travelling for tourism, going to...

Two notes: 1) you assumed costant purchase value of money. It is disproved by barely existence of CPI. 2) You assumed no innovation (or at least, that all innovations value is assigned to innovators, disproved by a simple study on income of highly skilled technical people). You're...

IMHO You and Schatafagos should define "rich". Probably he consider itsself to be one (and pay a lot) while you consider "rich" someone with a lot greater wealth (tens of millions a year?) and capable to dodge taxes (as all really wealthy do, see tax havens). Please state your numbers...

It depends on your definition of wealth. IMHO wealth is both value of both done and future work. When goverment throw a lot of money to go to the moon, and discovered a lot of new processes and advanced materials and technologies in the effort, it created wealth (as side effect, though) because...

Could you repost the link? It doesn't work. Thanks.

They cannot be for long time. Just think on a what a country exchange for its imports. Import and exports are two arms of a scales. How can you convince someone to give to you more than you give to him (in the long run)?

Correct. Inequality unsupported by producitivity difference (more profits due lower wages in your scenario, without any real innovation) is a cancer for all the system. Just because that lower wages means less buying power (and thus less employment). I'm convinced that as optimal energy...

This is one of the best thread I read here in ET. I'm mostly agree with you, trade4succes, but: Speaking on macro-level, you can have a reverse technological innovation when more un-productive jobs are created (reverse innovation in organization). The funny picture posted by Mithos explain...

For Italy, aggregated CPI is free: http://www.istat.it/prezzi/precon/rivalutazioni/ as a lot of pre-worked data, if you understand italian. if you want pre-calculation data you have to buy it from ISTAT (institute of statitics, a governmental institution). Their contact is info@istat.it or...

Let an Italian say "never say never". If for a strange turn of history italians (or greeks) will anytime return to stick to the behaviour and values who made Rome or Athens what they was, they could (of course, noone in Italy believe it will happen soon, just make a tour of Naples, or even Rome...

Please do not put a curse on us! :-) Your "stimulus", as your sarcasm clearly suggest, is the biggest scam in history (and I agree with Keynes on most!).

I'm alone to notice that in a world where 2/3 of people has not access to the same goods we have there's a big market for that capacity? Shouldn't we find a way for them to pay for that goods?

The first part (often quoted together), "banking establishments are more dangerous than standing armies" is surely by Thomas Jefferson, but in another context (deficit spending). It can be found here...

Well argumented, achilles... :-)

Maybe the opposite interest of debtors and creditors should nullify each other, and the decision should be left to real economy? Speaking of computers, they are one (maybe the only) sector where gains from innovations are spread between innovators, industry (profit becoming larger due to...

The same apply even if the population is stable and productivity (output-per-hour) is growing, and even with shrinking population, if productivity grows more than population shrink. But deflation is always bad? Don't you need a bit of "deflation" to allow all working people to partecipate...

Not my thought. Seems to me that credit should be created only by saving-based instruments (like CD, bonds, ...) to avoid people think their liquidity is in danger when a crisis arise. Long term credit should be backed by long term saving, so anyone is forced to stick to their plan and not...