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Money is a voting system on how natural resources and the time of others is spent. The non-democratic component of money is good for innovation. How will we f
by raducu 8y ago
Money is a voting system on how natural resources and the time of others is spent.
The non-democratic component of money is good for innovation.
How will we find a money-distribution process that: prevents 1% of people to accumulate 90% of the wealth, allows individual mobility across social classes, incentives innovation and correct allocation of resources?
- 0x445442 8y agoYeah, while agree with the first part of jillesvangurp's comment I think an argument can be made that the "printing" of money was one of the causes of the increase in meaninglessness work.
- dv_dt 8y agoLol, I think agree with first part, but not the second part. At best the non-democratic component of money doesn't completly squash innovation, but the capital distribution and control resulting from it has seriously constrained it in this phase of our economy.
- JoeAltmaier 8y agoPrinting money devalues it a little. It hits harder when you have millions or billions, than when you have little. So printing money seems to be on the side of redistributing wealth, not concentrating it?