Re: American wealth inequality

On 10/20/2010 6:55 AM, Mickey wrote:
Starvin Marvin<smarvin@xxxxxxxxxxxx> wrote:

There are lots of analogies possible to make to illustrate the
problem, but the one of the Earth's water is as good as any: let's say
that money in the American economy is like the water available on
Earth. There is a finite amount of it.
Fundamental error #1.

Wealth is NOT a natural resource. Wealth is created every time trade
takes place.
It's not "fixed".

And, no, it doesn't take place merely because trade occurs. Trade has been going on for EONS.

Wealth is created (expanded, actually) when goods, services, and new innovation are created using less and less resources (material, manpower, effort, energy).

Most likely, wealth is concentrated because so few people understand this and even fewer can create/manage it.

Next Marvin will probably throw out that idiotic and ignorant canard about "trickle down" economics.
.

Relevant Pages

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