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09:37
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Originally posted by Dr.Who:
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With due respect I disagree with your assertion that growth should only occur in tandem with productivity. That thinking, in my opinion, is where the naive get it wrong. It appears to be said through the lens of one's personal finances. Indeed Bruce down the street should not be loading up with debt for a new car unless his income (productivity) can service that debt.
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This is a perfect example of setting up a straw man, then congratulating yourself for defeating it. Bruce would get a loan in both scenarios. Under a gold standard though, only the really good ideas would be funded and the competition for money would be much tougher, as it should be.
