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> The reason you're wrong is that high earners are usually not actively producing things. I don’t know what background you are coming from, but rest assured th
by xyzzyz 6y ago
> The reason you're wrong is that high earners are usually not actively producing things.
I don’t know what background you are coming from, but rest assured that most high earners do produce significant value. Lawyers, doctors, software engineers, architects, the list could go on an on. To be sure, some people might make money in zero sum activities, and some might exploit information asymmetries to charge significantly more than their services would be worth in perfect information scenarios. But, by and large, high earners (defined as, say, top 5% of wage workers) most definitely do provide value, in excess of what they are actually paid. It is simply hard for millions of people to convince others to give them more money than they services are worth.
> Or, another way to look at it. (...)
I don’t actually understand your argument in this sections. Most good advice on getting rich is not focusing on “passive income”. Instead, it focuses on investment and on providing value by entrepreneurship. People talking about “passive income” usually mean by it a kind of investment that produces returns with little to no labor input required. Given the low cost of capital today, such investments don’t usually provide high returns, and so are highly unlikely to make one rich. They can provide nice income, to be sure, but that requires becoming rich in the first place.
- javajosh 6y ago>Most good advice on getting rich is not focusing on “passive income”. I have to conclude you aren't arguing in good faith.