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First recorded activity by BoatBanter: Oct 2010
Posts: 4,021
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A good Labor quote
On Sun, 04 Sep 2011 23:26:51 -0400, wrote:
On Sun, 4 Sep 2011 19:01:44 -0700 (PDT), Tim
wrote:
"Labor is prior to, and independent of, capital. Capital is only the
fruit of labor, and could never have existed if labor had not first
existed. Labor is the superior of capital, and deserves much the
higher consideration." (Abraham Lincoln)
Have a happy labor day weekend!
I hope that is not true because the US has embarked on a path of
making money without expending any labor for the last 30 years.
A significant part of the GDP is just "money making money" not people
making things. A lot more is "robots making things"
That is why we are in so much trouble.
Industry accounts for about 25%, services about 75%, of GDP. Services
are "intangible" products. I'm sure if you poke around here, you'll
get more information: http://www.bea.gov/.
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