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I worked out why you're wrong: you're assuming that everyone competes for status in the same way. They don't, so the economy need not be zero-sum.

There may be some people whose assessment of their own status depends directly on their income, so economic growth may harm those people, but most people don't compete that directly on net worth.

by Colman (colman at eurotrib.com) on Mon Dec 3rd, 2007 at 10:45:25 AM EST
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