4 ms·
Likewise, there's the idea of "creating value" and the idea of "extracting value". - If one buys wheat, bakes bread and sells it making a profit, they're crea
by WhyNotHugo 5y ago
Likewise, there's the idea of "creating value" and the idea of "extracting value".
- If one buys wheat, bakes bread and sells it making a profit, they're creating value.
- If one buys all the wheat in the region, creates a shortage and price spike, and then sells it at a profit, they're just exacting wealth.
The second case is not contributing any value to society -- quite the contrary, they're just redistributing the existing one for themselves, giving nothing in return (hence "extracting value").
Sure, the second option is legal, but that just seems like an oversight when law-making, and it definitely harms society more than anything else.