I’m scheduled to meet with Taiwan-primarily based on-line gaming and e-commerce company GigaMedia (ticker: GIGM ) this week.
Let’s scale this vision up now. Picture a nation of folks with energy, intellect and resources to make things. This is genuine productive capacity, and it a source of actual value in the type of true goods and services. Now envision a piece of paper that says ‘whoever holds this is entitled to claim goods and services from the folks of this nation’. That’s a claim upon value. Now think about that 60 million folks think in that claim. A network like that is so effective that it’s in nobody’s interest to not think in the claim.
The broad brush of facts are not actually beneath debate. Their interpretation is. Very first, they may indicate old-fashioned informational inefficiency – data, such as inside data, that somebody has, but is not totally reflected in market costs, for technical or behavioral causes. The widespread movement of returns makes this argument tougher to swallow, nevertheless.
This write-up is extremely apropos if you reside in the US exactly where there are so several possibilities obtainable for anybody who is willing to do the tough operate to succeed. It doesn’t apply to most 3rd workd nations even though due to the very restricted opportunities obtainable in these countries. Given the identical criteria, with every thing becoming equal, a particular person in the US will be at least numerous times richer that a individual in one more nation, just on their salary alone. If you travel about the globe, you’ll find out that the US is a single of the least expensive countries in which to reside, with 1 of the highest salaries.
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