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Money (cash) is not wealth. Wealth can be created, or destroyed. The clearest explanation I've read for this was a PG essay: http://www.paulgraham.com/wealth.ht
by compumike 4y ago
Money (cash) is not wealth. Wealth can be created, or destroyed. The clearest explanation I've read for this was a PG essay: http://www.paulgraham.com/wealth.html http://www.paulgraham.com/wealth.html specifically the "Money Is Not Wealth", "The Pie Fallacy", and "Craftsmen" sections. Of course this essay has a positive/optimistic take on it, but certainly wealth can be destroyed as well.
- whatshisface 4y agoThat's true, but I am not aware of any wealth indices, only price indices, and price indices can only increase and decrease relative to each other.
- JumpCrisscross 4y ago> I am not aware of any wealth indices Term you’re looking for is “benchmark.”