tag:blogger.com,1999:blog-8565058215241559642.post5001848393791661577..comments2023-07-29T08:41:13.998-07:00Comments on Realizing a better world: Overcoming an Economic Sisyphean Task – Or, the True Path Back to Economic Prosperityluke.h.leehttp://www.blogger.com/profile/14486788989134555723noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-8565058215241559642.post-65606768324573893052010-09-17T09:36:00.487-07:002010-09-17T09:36:00.487-07:00So, you are saying that if the electronic market s...So, you are saying that if the electronic market supported the purchase of goods and services based on quality and service instead of functin and price, then people would naturally pay more for local goods?<br /><br />I understand the attraction of this, but people can manufacture their own patience to deal with lower quality and service, but they can only produce so much monitary income in this highly-regulated society. This is what drives them to intermediaries like Wal-Mart, when locally produced alternatives are readily available. Cash is the limiting factor that drives the equation here.JTKlopcichttps://www.blogger.com/profile/07202879859949004604noreply@blogger.comtag:blogger.com,1999:blog-8565058215241559642.post-33306445576983050982010-09-16T17:50:52.228-07:002010-09-16T17:50:52.228-07:00Howard A and Ken,
Thanks for your comments.
As I...Howard A and Ken,<br /><br />Thanks for your comments.<br /><br />As I explained in the above article, the Internet is a three-dimensionally integrated communication system. In other words, the Internet is an infrastructural link or bridge between information sources and recipients. By using that link or bridge as an infrastructure, we could create numerous applications. <br /><br />Then, do we have that kind of three-dimensionally intergrated systems in the real process? Yes. There is only one in the real production process. That is Toyota's Production System. But, we do not have any similar systems in the real market process.<br /><br />If you wish to know more details, please directly contact me through my e-mail.<br /><br />Sincerely,<br /><br />Lukeluke.h.leehttps://www.blogger.com/profile/14486788989134555723noreply@blogger.comtag:blogger.com,1999:blog-8565058215241559642.post-10267051857662803932010-09-16T11:26:34.326-07:002010-09-16T11:26:34.326-07:00I really don't understand your "three-dim...I really don't understand your "three-dimensionally integrated market system". Could you give a clear definition of a "three dimensional system" and some clear examples of how this could work? <br /><br />I arrived at your site from your post to the Rogoff article.Howard Ahttps://www.blogger.com/profile/03894090166889627467noreply@blogger.comtag:blogger.com,1999:blog-8565058215241559642.post-66583407118184790552010-09-16T10:39:21.211-07:002010-09-16T10:39:21.211-07:00I enjoyed your article.
One thing you did not men...I enjoyed your article.<br /><br />One thing you did not mention was the artificial stimulus created by the increase in housing values during the period from 1998 to 2007. This made homeowners feel wealthier than they were and allowed them to take out home equity loans and second mortgages to fill in the gap between their incomes, which grew at a slow pace, and the standard of living they had grown accustomed to during the period after WWII, the cost of which grew at a faster pace. When the housing market fell, the ability to fill that gap disappeared, so demand fell and the recession started, officially in the fourth quarter of 2007. Of course, falling home values left the financial institutions holding mortgages with substantially less collateral value than they thought they had, leading to the collapse of September, 2008, but my main point is the effect of housing prices on the spending habits of the middle class.Unknownhttps://www.blogger.com/profile/10358748734111325253noreply@blogger.com