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Unformatted text preview: Steve Jobs, assuredly one of the hardest working individuals on the planet. He has a net worth of about $5.7 billion. If Mr. Jobs safely invested his fortune he could rely on an income of $5.5 million. Oh, by the way, thats more than five million a week not a year. Why dont people just work a few hours a week, as Keynes predicted, and then go home? What did Keynes get wrong? Assumed most people would want the same amount of output Consumers have increased demand Always something new Global economy Variance in wage More competition Increase in education/gender changes Population increase growth (e.g. Baby Boomer) Standard of living increase Paper Confusion on how to account for items at home o Should account for cost: per usage basis...
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- Spring '09