austrian63

Jim Rogers Believes World Is Heading for Depression

To logicalsinger,

I think Jim Rogers does get the fundamentals of wealth creation. He knows that wealth is NOT created by creating money out of thin air. Wealth is created by innovation, production and exchange. Money is merely a medium of exchange and like any other product it is subject to the law of diminishing marginal utility. The more units of money that exist, the less value each unit has.


On Apr 02 09:05 AM logicalsinger wrote:

> I don't think Rogers gets the fundamentals of wealth creation. At
> the root is the intellectual property machine which has been until
> now US-based innovation and technology. Emerging markets wealth is
> derived from that root wealth creation when American and European
> companies move to outsource manufacturing and services. Until you
> see major proprietary innovation and intellectual property (tech,
> pharma, media etc.) coming out of emerging markets, I wouldn't get
> too excited again about those markets.