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"Inequality in our world is definitely tearing society apart..." This is a false narrative that is not supported by the data or by economic realities. Allow m
by jschveibinz 2y ago
"Inequality in our world is definitely tearing society apart..."
This is a false narrative that is not supported by the data or by economic realities. Allow me to get on my soap box for a moment...
Inequality is a concept that is economically (not psychologically, unfortunately) inconsequential to a world that has seen a dramatic DECREASE in poverty in the past 50 years. We live in the best of times.
https://poverty.ucdavis.edu/faq/what-current-poverty-rate-united-states https://poverty.ucdavis.edu/faq/what-current-poverty-rate-un...
The ratio of one person's "wealth" to another's (inequality) has little or no bearing on anyone's wellbeing unless the person of less wealth chooses to make it so.
In other words, Elon Musk (for example) is not keeping anyone from being able to afford things just because he has great wealth. That wealth was created out of enterprise value--it was not stolen from anyone.
There is no great "source of wealth" that only certain people have or can control access to. Wealth is created, not hoarded. This forum is ostensibly about this very topic: commercialization of technologies and value creation.
In a free society and economy, individuals are capable of building ventures that have enterprise values that are "invented" out of thin air through economic contracts.
LeBron James, for example, is very wealthy because he has a contract to get paid for his talent. That contract was valued through economic negotiations. He grew up in poverty, and now he is wealthy.
This is where wealth comes from: the creation and monetization of something of value. It happens in the stock market every minute of every trading day.