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One might argue that the market itself becomes "stupid" (stops accurately indicating value) when people have so much money that they stop caring about how they
by nicoburns 2y ago
One might argue that the market itself becomes "stupid" (stops accurately indicating value) when people have so much money that they stop caring about how they spend it.
- uoaei 2y agoExactly, it indicates profoundly inefficient dynamics. That money could be put to use far more productively.
- thatfrenchguy 2y agoAnyone who has risen through social classes knows that poorer people use their money much more wisely than richer people :)
- mynameisash 2y agoI don't think you're wrong, but I know people who grew up poor and blow money on stupid shit -- or at least unnecessary purchases (eg, upgrading to every single new iPhone). OTOH, I grew up upper-middle class, my dad being quite frugal and a big DIYer. Similarly, I make good money and am also very frugal. I have no reason to flaunt money around my peers.
- skirge 2y agoyeah but what is value? Why someone should be worried about 20$ if he for example can't sleep and it's most important thing to him.