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I don't know that it's fair to simply say his statement is false. The problem with your reductio ad absurdum is that the rich in such countries do not create w
by hydrox24 8y ago
I don't know that it's fair to simply say his statement is false.
The problem with your reductio ad absurdum is that the rich in such countries do not create wealth. Their economies are aptly described as crony-capitalism for this reason. It's a redistribution of sovereign wealth (resources) rather than the creation of wealth.
Your argument more broadly is that wealth is created by the needs of the market. But I think that you cannot ascribe it to any particular one of the things you listed. Regardless of who determines those needs, someone also needs to fulfill such needs. On top of someone to fulfill the needs, you need capital to fund the venture too. Thus, you end up with a small number of very rich people who use their capital to fuel wealth creation.
I don't know that the full thrust of the parent is correct, but he's not totally wrong either. You may need a middle class, but you need the other classes, however transient, as well.
- nickthemagicman 8y agoSo it appears you're supporting my point. Youre saying that idea makers need capital and the rich have the capitol. And that the rich...create the wealth by investing capitol? The makers create both the value and the wealth as I see it. What the makers need is just capitol...capitol the rich are hoarding in their clammy pocketbooks. It seems rich people are an completely interchangable obstacle to obtain capitol. 8 houses and a private jet that could be funding makers that provide value to the human race. I don't see the purpose the rich serve other than an obstacle.