I believe I did explain/decompose the underlying mechanism
A simple way to see this: even a relatively crappy factory will make more goods in a month than it & its employees consume in a month. Likewise for farms, mines, fishing vessels, etc etc.
I could also have mentioned that it’s relatively easy for two people to make three.
If someone prints money for themselves, they’ll devalue their currency, but they won’t be making factories less productive.
Intel makes more stuff than they use, no technical progress required.
I should’ve said “a dollar’s worth of stuff can produce 1.03 dollar’s worth of stuff”. That would have been more clear.
I believe I did explain/decompose the underlying mechanism
I could also have mentioned that it’s relatively easy for two people to make three.
If someone prints money for themselves, they’ll devalue their currency, but they won’t be making factories less productive.
Intel makes more stuff than they use, no technical progress required.
I should’ve said “a dollar’s worth of stuff can produce 1.03 dollar’s worth of stuff”. That would have been more clear.