HC Economy

True Economic Value
The following example shows how minimal the value of needed raw materials is in reference to a countries total Gross Domestic Product (GDP) output. In 2005, economic estimates showed that the United States, having a population of around 298,000,000 people had a $12.5 trillion dollar economy which worked out to about $42,000 per capita. However the total value of the needed non-fuel raw materials produced domestically and imported for consumption from other countries was, relatively speaking, only $58.9 billion dollars or $198 per capita (or also 0.005% of the GDP). With only about 1% of the US economic output that year coming from the agricultural sector, this means that the the economic values added to these raw materials while being processed, or being used to make, finished goods was roughly $40,000. This is what is usually involved in an economy's non-material Service sector, as much of this sector is comprised of human labor. Therefore this example clearly shows that if the NJK Economy operated with the same high "materials needs level" as the United States (which it will not), it would only need to spend at the very most $295 annually per capita in subsequent years for the procurement of main raw materials. May 28, 2008