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I am trying to formulate a theory of wealth in modern society - I think that the vast vast majority of wealth resides in, or useless without, huge reservoirs of
by lifeisstillgood 7y ago
I am trying to formulate a theory of wealth in modern society - I think that the vast vast majority of wealth resides in, or useless without, huge reservoirs of public wealth - from aqueducts still supplying Rome after 2000 years to public roads and rail.
The active capitalist stuff going on, is mostly the frothy but as water fills up the reservoir - it the deep water is public, social wealth.
It's a bit nebulous but I think it is worth us asking when is the right time to stop treating something as "frothy capitalism" and needs to be left of the free market and when it is deep water and needs to be just free to all.
- danans 7y ago> The active capitalist stuff going on, is mostly the frothy but as water fills up the reservoir - it the deep water is public, social wealth. Even privately held capital is underpinned by public, social "wealth" in the form of a system of property rights and the means to arbitrate those. Society, as manifested in government and the courts, is protecting all our claims to ownership of property with the threat of force. If it stops doing that, the value of much of our property/capital will plummet quickly.
- lifeisstillgood 7y agoyes.. There are two attitudes to tax - one it is a service fee for government services, something short term to be haggled down, or it is a long term investment in this depp water wealth. Threat of force is technically what underpins all this but that needs to be a credible threat - just having force without knowing where and when to apply it leads to applying it in wrong place or as "encourage les autres". And knowing when to apply it is likely the job of civil servente. I think I am diving into late night undergraduate philosophy and economics - hmmm