You talk about "limitless expansion of productivity" as a linear extrapolation along one dimension.

But consider how much has changed in the economy since the days of Adam Smith. Nowadays we manage to support most of our population even though only a small fraction, say 20%, is engaged in direct production of goods and food. Smith might have found that pretty baffling, almost magical. Productivity has a synergistic effect that allows the economy to expand along more than one dimension.

You talk about "socialism" in Europe having such destructive effects, but how would you explain that the US ranks sixth in overall standard of living, behind Norway, Australia, Canada, Sweden, and Belgium; and only a hair above Iceland, Netherlands, Finland...and the rest of the roster of European nations? (UN Human Development Report 2001) Those "socialist" countries have chosen a formula that puts a greater weight on social concerns, and apparently haven't suffered so horribly because of it.

Heck, six weeks of vacation are the norm in those countries, compared to two weeks here. I'd say most Americans would be a whole lot more relaxed and healthier if we took six weeks vacation too.

The quality of life isn't measured only in corporate profits, Tom.