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To: mrsmith

Service sector is value added and doesn’t really create wealth it just transfers it around. Wealth is created ( i.e. something of value is created from nothing ) in only three ways; mining, manufacturing and growing (agriculture).


28 posted on 02/06/2016 7:40:23 AM PST by central_va (I won't be reconstructed and I do not give a damn.)
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To: central_va

Well, they create ‘some’ wealth by making wealth production more efficient. But it’s an order of magnitude less than what production creates.

A good example I think is that a producer getting a prepared meal and using the saved time to do something more productive increases wealth marginally.
A prepared meal bought by a person who uses the saved time to goof off doesn’t at all.
Yet both transactions are in the consumer service sector.
And some service sector is needed for wealth production to occur, and occur efficiently.
But production is the only ‘engine’ that will grow wealth.


35 posted on 02/06/2016 8:25:32 AM PST by mrsmith (Dumb sluts: Lifeblood of the Media, Backbone of the Democrat/RINO Party!)
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