Economics’s 101 continued
To the Editor:
The problem we are having with the economy is, 200 years ago almost everyone was busy in agriculture, producing food, fuel and clothes. Over the years, it became easier to work in a factory and buy food, fuel, etc. The people working in the factory produced cars and other things, some of which were exported. The things produced in the factory made everyone’s life better, and the things exported made us richer.
China will in 2013 produce more than all of Europe, including Russia and Turkey. Everyone can produce anything as good as we can.