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There are two kinds of wealth that gets confused in the discussion. The absolute wealth of having access to high quality services and goods with relatively lo
by CuriousSkeptic 6y ago
There are two kinds of wealth that gets confused in the discussion.
The absolute wealth of having access to high quality services and goods with relatively low efforts. This is the wealth we create by progress.
Then there’s the relative wealth of which share of the economy you wield power over. How much of the current means of production is commanded for your personal priorities and how do they relate to others priorities? What is the opportunity cost?
- pdonis 6y ago> There are two kinds of wealth that gets confused in the discussion. No, there's just wealth. Which is basically what you are calling "absolute wealth". What you are calling "relative wealth" is not wealth; it's either simple trade (when you buy a product, you are "commanding the means of production" that produced it, but that's just how a free market works) or brute force (using either overt violence or government power to "command" resources that in a free market would go to other uses).
- CuriousSkeptic 6y agoRelative to your peers. If it clear things up.
- pdonis 6y ago> Relative to your peers. If it clear things up. I already understood that that's what you meant. It doesn't change anything I said.