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Wealth has always been closely linked with the amount of value a person can provide to other people. Of course I am leaving out wealth created through corruptio
by frogpelt 13y ago
Wealth has always been closely linked with the amount of value a person can provide to other people. Of course I am leaving out wealth created through corruption or sheer power.
Intelligent machines, software and connectivity have only made it easier for a single person to provide value to millions of other people.
Lebron James makes $60 million a year because the NBA, the Miami Heat, and the companies that he endorses feel he provides at least that much value to their organizations and brands. NBA players fifty years ago didn't make that much because the fans weren't able to have the kind of access that is available now through 24/7 sports TV channels, the Internet, social media. That increased access through technology means Lebron can provide more value.
- sanskritabelt 13y agoOn the other hand, capital accumulates, and is consolidated over time. Also part of the reason athletes make so much more today is because of sustained labor agitation on the parts of the unions. Go read 'Ball Four' for an example of what pre-union sports was like.