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> Today's definition of wealth is rooted in resource extraction and energy use. That's not true, unless in very basic technical sense - like, we need energy to
by smsm42 3y ago
> Today's definition of wealth is rooted in resource extraction and energy use.
That's not true, unless in very basic technical sense - like, we need energy to exist, turn on our computers, etc. But resource extraction and energy production is not the dominating source of wealth for many years now. Look at the current market's magnificent seven: Alphabet (GOOGL; GOOG), Amazon (AMZN), Apple (AAPL), Meta Platforms (META), Microsoft (MSFT), NVIDIA (NVDA), and Tesla (TSLA). Not a single of them does resource extraction or sells energy.
It's not true socially either. If someone wants to get rich, they go into finance, high tech, entertainment maybe. Not in oil prospecting or gold digging (not that there aren't money in it - there are, but it's not what the society considers to be a lucrative business anymore). It's not 1849 now.