Re:Economics Simulation
by imtringued on Monday January 25, 2016 @02:47AM
(#10966090)
Technological progress drives long term economic growth.
Economics merely tries to maximise utility of land, labor, capital. We already maximised utility of land and labor a long time ago. We can further increase that utility with physical capital (fancy word for possesion of technology).
<sarcasm>There is also financial capital (fancy word for money) and it's primary purpose is getting more financial capital. Buying land, labor or physical capital are secondary.</sarcasm>
<sarcasm>There is also financial capital (fancy word for money) and it's primary purpose is getting more financial capital. Buying land, labor or physical capital are secondary.</sarcasm>