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> The real wealth is not dollars or pounds or whatever, the real wealth is goods and services. You missed one that is arguably more important: ownership of ass
by danans 1y ago
> The real wealth is not dollars or pounds or whatever, the real wealth is goods and services.
You missed one that is arguably more important: ownership of assets that provide security, shelter, and productivity.
- hgomersall 1y agoControl trumps access trumps ownership. If the asset is on US soil under US regulations it's controlled by the outputs of the US political system. Any failure of those assets to actually benefit the local population is a failure of the US political system.
- elzbardico 1y agoIn a simplified sense, all assets start their lives as goods, either tradable goods, goods that are used to build more goods, future goods, or things that represent ownership or an interest in any of them. Land is a bit more complicated. But even land value is conditional in what you can use it for.
- danans 1y agoBy assets I mean things that are durable and can be held and used for long periods of time, some times spanning generations. Yes, land is the ultimate example. In a more general sense it can also be systems of law (and consistency of adherence and enforcement) that provide the stability and infrastructure for the trade of goods and services. There is a reason that famines are associated with wars: trade in food collapses when stability disappears.