Since the dawn of the Industrial Age, this has been simple: produce more with less. (“Productivity,” in economic jargon.) Mass markets developed for clothes, cars, computers and much more because declining costs expanded production. Living standards rose. By contrast, the logic of the “post-material economy” is just the opposite: spend more and get less.
— Robert Samuelson on why Obama’s economic plans won’t work. RealClearPolitics - Articles - Obama’s Economic Mirage
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