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It's not how much you make, it's how you make it: - dependency: allowances, public welfare, UI, grants, bursaries, inheritances and trust funds, scholarships e
by motohagiography 7y ago
It's not how much you make, it's how you make it:
- dependency: allowances, public welfare, UI, grants, bursaries, inheritances and trust funds, scholarships etc.
- labour: paid for fungible work. (piece work, hours of labour)
- time: paid for individual time spent. (salary)
- knowledge: paid for things that can be taken and reused e.g. analysis, opinion, assessment, advice, teaching.
- performance: paid for outcome only you can deliver. e.g. litigation, sports, music, prizes, bonuses, gambling.
- risk: paid for taking/holding risk, priced-in compensation for perceived potential loss. e.g. leverage, brokerage, insurance, liquidity.
- capital: charging rents on a capital asset. e.g. real estate, dividends, loan interest, franchise fees, IP licensing.
- power: taxation, tributes, bribes, etc.
We can dress up the amounts people make and make up vanity excuses, but these are what you get compensated for, and there is definitely a hierarchy. Everyone likes to think they are middle class, but what really defines social position is how and for what you are compensated.