2 ms·
Wealth isn’t sucked out of anything. If I build a product and sell if for $20, but it creates $100 in value (Let’s say some software that saves a person 4 hours
by oceanplexian 4y ago
Wealth isn’t sucked out of anything. If I build a product and sell if for $20, but it creates $100 in value (Let’s say some software that saves a person 4 hours a day of manual labor) I created $80 worth of value, for <$20 worth of profit, minus my costs.
When people who have benefitted from those productivity benefits then turn around and whine about how they aren’t getting “their share” of the <$20, or complain how it is somehow wrong that the wealthy can spend or transfer wealth however they like, I can’t help but cringe. The real societal problem is the modern education system is failing to educate people in basic economics.