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We shouldn't conflate competition for the finite resources (food, energy, etc.) with creating wealth (which is not finite). If I invest in bonds and make some
by randerson 4y ago
We shouldn't conflate competition for the finite resources (food, energy, etc.) with creating wealth (which is not finite).
If I invest in bonds and make some money, it's not taking food or warmth away from anyone else. On the contrary, I might be helping fund additional food and warmth. (In this example, my analogy is backwards because I'm actually profiting later in order to feed someone today).
- tomxor 4y agoWhen there is an economic event that pushes a massive portion of the population under or very close to the line that allows them to buy their fair share of those finite resources, then redistribution of wealth is competing for those finite resources.
- randerson 4y agoThis makes it sound as if wealth is being taken from the unfortunate and given to the fortunate. But the unfortunate are going to be at/below the line regardless, even if the fortunate all decide not to profit off the event. On the other hand, if some people get to profit (responsibly, in a way that doesn't make anyone else worse off), that seems like a net gain.
- MisterSandman 4y agoQuite literally, no. We're literally seeing rich energy companies profit off of the energy crisis by increasing prices more than they need to. Salaries for their CEOs are at all time highs.
- randerson 4y agoOK, but my point is it's possible to be a responsible investor. My example was bonds. The US helped the poor with stimulus checks when COVID hit. Where did the money come from? They issued bonds. Same deal with the Ukraine aid. Meanwhile I'm buying treasury bonds which I'll profit off. Please tell me who is getting screwed here.