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> a state where you have wealth without participating in the economy I wouldn’t call that artificial nor hard to maintain: it’s axiomatically impossible. You’r
by didericis 6y ago
> a state where you have wealth without participating in the economy
I wouldn’t call that artificial nor hard to maintain: it’s axiomatically impossible. You’re participating in the economy whenever you create or receive anything of value.
Even in a hypothetical scenario where you’re making absolutely everything you consume yourself from your own materials and giving it out (the complexity of which makes it impossible), there is an economy of action and resource distribution needed to make that happen. Any kind of decision making about the distribution of resources are economic decisions.
This is semantics, most people here understand this, and I realize you’re making a similar point, but I’m hearing more and more casual dismissal of economic concerns as somehow separate from human concerns. The extent to which the economy does or does not effectively balance the human concerns of those participating in it is a measurement of the effectiveness of that economy.
Any kind of “new economy” needs to recognized the complexity of allocating resources effectively and the hugely disparate and varied range of desires, concerns, abilities, and resources between people. The realization that free trade generally leads to greater wealth was essentially an enlightenment era realization that decentralizing decisions about resource allocation is more efficient than trying to manage all of that complexity centrally. A lot of discussion about “democratizing the economy” seems to veer towards centralized redistribution and control rather than actual decentralization and democratization.
- astrange 6y agoYep, I agree of course. If you're not "participating in the economy" then you can't be rich, and hoarding wealth usually makes it worthless. That's why Atlas Shrugged was nonsense. But you can sort of do it short term - retired people and the idle rich do exist - and a lot of people assume you can, like saying a billionaire actually has a billion USD they could give out, or thinking their employer's going to replace them with an AI.