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What is a "wasteful purchase" in this case? If the idea is to keep the money moving and to not give people huge amounts of free money by accident of birth, is n
by EliRivers 10y ago
What is a "wasteful purchase" in this case? If the idea is to keep the money moving and to not give people huge amounts of free money by accident of birth, is not any purchase that isn't effectively taking huge amounts of raw materials and destroying them (as opposed to making something useful out of them) a good thing?
- bko 10y agoI would argue a wasteful purchase is fast cars and boats. By buying these IMO frivolous goods, you're diverting resources from investments that would serve society to those that benefit the very few (luxury auto makers). If instead you invested in stocks and bonds that fund companies that generate value and passing on the future proceeds to that investment to future generations, this would be arguably a better use of resources
- blibble 10y agomight as well just ban all entertainment entirely as it's entirely frivolous
- EliRivers 10y agoUnless you buy at the IPO, which is a minority of share purchases by a very long way, you're not funding companies. Buying a company's goods, such as cars or boats, however...
- simplify 10y agoWhat about investing stocks and bonds into companies that manufacture fast cars and boats? :)