Comment Re:Why does Apple hate America? (Score 1) 599
It's not money per se, but the velocity of money, that moves the economy.
The economy is not some beast that has to keep moving so that it doesn't die and if it moves faster that means we're generating more wealth and we're all happier and richer. That's completely missing the point. The function of the economy is to satisfy people's preferences. If people prefer to work more and consume more, then that's what will happen, and if people prefer to work less and lead simple lives then that's what will happen in that case. There's nothing intrinsically good or bad about either. And in the long run what satisfies people's preferences the most is capital accumulation. You have all the wealth that you have right now not because people are moving cash around really quickly and consuming a lot but because a whole bunch of people over the past ten thousand years decided that rather than producing to consume the whole product immediately they would produce things like factories, infrastructure and research for future benefit - they decided to _produce more than they consume and save the difference_. Human society is a fat cat that has been getting fatter since the dawn of civilization and you can thank that for cheap food, infrastructure, medicine and the computer you wrote your post on.