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Their wealth is scarce in that they can't share it endlessly. No one is ultra-wealthy enough to say, "I'm going to give $1 million to random people so that peop
by sungho_ 2y ago
Their wealth is scarce in that they can't share it endlessly. No one is ultra-wealthy enough to say, "I'm going to give $1 million to random people so that people don't have to suffer anymore. That's a critical difference.
- karmakurtisaani 2y agoIf it was in human nature to start sharing once you've hoarded enough, we would certainly start seeing it with our billionaire class. Instead, we're seeing the opposite. I think it's even been studied that the more wealth you have, the more selfish you become. Plus, of course the physical limitation that no one can ever be rich enough to share endlessly.
- sungho_ 2y agoWhen we talk about after scarcity, we're talking about an endlessly sharable amount of wealth. (Not in a technical sense, of course) Then the super-rich will start sharing their wealth, because if they don't, their competitors will do it first and take all the fame. It is not from the benevolence of the super-rich, the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.
- CRConrad 2y agoToo subtle. Most readers probably won't recognize you were quoting Adam Smith there.
- karmakurtisaani 2y ago> their competitors will do it first and take all the fame. I don't think I'll be holding my breath waiting for ultra rich to be motivated by fame of this type. In fact, I think it's wishful thinking in its finest form.