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"Saving" fails to distinguish between different uses of assets. "Investing" one's resources means putting them to work to create value. "Hoarding" them means t
by leot 14y ago
"Saving" fails to distinguish between different uses of assets.
"Investing" one's resources means putting them to work to create value. "Hoarding" them means the assets are as good as if they were buried in the ground. Investing is riskier and takes more work and more smarts, but any idiot can hoard.
What creates (or is more likely to create) more value? 1 million dollars distributed among promising startups, or 1 million dollars spent on mining gold? 1 billion dollars spent creating an airline, or 1 billion dollars spent on vast swaths of real estate?
- SilasX 14y agoThat depends entirely on whether the investments are producing genuine value or, say, new ways to hide the risk in mortgages. Yes, sometimes saying "no" in the aggregate is the right call.