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>In the real world you can create wealth as well as taking it from others. A woodworker creates wealth. He makes a chair, and you willingly give him money in re
by Rainymood 11y ago
>In the real world you can create wealth as well as taking it from others. A woodworker creates wealth. He makes a chair, and you willingly give him money in return for it. A high-frequency trader does not. He makes a dollar only when someone on the other end of a trade loses a dollar.
But wait a second, the woodworker doesn't get the wood from something? Which happens to be a natural resource? So he's just siphoning wealth from the earth to his own pockets (by adding some more value).
- AnimalMuppet 11y agoYou could argue that the woodcutter is "siphoning wealth from the earth to his own pockets". Or, you could say that the woodcutter is getting paid for his labor. But the woodworker buys the wood from the woodcutter, rather than cutting it himself. He creates wealth by making a chair that is more valuable than a block of wood. And I would say that "siphoning wealth from the earth to his own pockets" is antithetical to "adding some more value".