LETTERS: All about economics

I must be a fool to think all this, let alone writing it out.

Something I have been wondering about in regards to medical afflictions. The seeming incurable diseases that have been costing health care millions, if not billions, of lives and of course, the dollars involved.

Every year the worldwide higher institutes of learning turn out many more PhDs and other diploma level graduates. Yet, every year, millions, (perhaps billions) are raised through collective efforts for research into the many health afflictions.

What would happen to the economy if all diseases were cured in the next couple of years?

What would the medical research businesses do for income?

How would the globally interconnected pharmaceutical businesses do for income if nobody needed pills?

What would all the people who have stocks in these pharmaceutical corporations do for their income?

Am I a fool for thinking there seems to be something odd about this situation?

And, am I a foolish person for even writing this?

I also wonder about the millions of people involved in just the automotive industry. Despite many new tech developments coming out every week, the new cars available do not really get that much improvement in gas mileage. What would happen if cars were to get four or five times the gas mileage they seem to have now?

Could there be a dangerous drop in the amount of oil being pumped out of the ground?

Economically speaking, it makes sense to this middle aged fool. As it seems there can never be a cure for all diseases, nor a car that can go five times the distance. As then, what would all those people do for income?

Oh, and I recently read a proposal for a national minimum wage raise to $15. This would only result in everything going up in price. While it reads good, or sounds even better as a promise in an election pitch, think of this while paying $5 for a cup of tea or coffee.

Someone once told me, “it’s better to let everyone think you are a fool, then to open your mouth and remove all doubt.”

I must be a fool to think all this, let alone writing it out.

Brian Strong

Penticton