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Well, 1) The world is getting bigger over time. 2) The world's industry, per capita, is getting more valuable over time. 3) Even if the first two were untrue
by cynicalkane 16y ago
Well,
1) The world is getting bigger over time.
2) The world's industry, per capita, is getting more valuable over time.
3) Even if the first two were untrue, there is still a time value to money. People will spend capital to get value immediately, and investing is the opposite of that.
- a5seo 16y agoThis is a question of economic growth, which this paper handily explains... http://www.stanford.edu/~promer/EconomicGrowth.pdf http://www.stanford.edu/~promer/EconomicGrowth.pdf If you believe it's feasible for economic growth to continue, then you believe it's feasible for the indexes to continue to rise, perhaps to something that rounds to infinity (at least for my purposes).