intellegacy

26 ms·

211.
by intellegacy 14y ago
You have some facts about Bill Gates wrong. Not only is he smarter than other smart people but he's also harder working than most other hard-working people. It was generally accepted among his classmates that he was the smartest in his clas
212.
by intellegacy 14y ago
I liked your analysis and agree for the most part. But you can't leave out the talent factor, nor the resources/position one starts with. It is possible to be born into success.
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by intellegacy 14y ago
Thanks for the reply. It's hard to remember sometimes that if wealth is defined by what humans value then increased choice can lead to more efficient wealth. I'm just having trouble reconciling the fact that wealth is being created when we
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by intellegacy 14y ago
Ok, I'm reading some economics as I type. on Economic efficiency: Efficiency is really about a society making the best or optimal use of our scarce resources to satisfy most wants & needs. To use your bread example, more bread compani
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by intellegacy 14y ago
Ok, now this is getting interesting. You raise some interesting points that make me question the deeper meaning of what wealth really is. Perhaps we simply disagree about the definition of wealth. From Wikipedia: the meaning of wealth is c
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by intellegacy 14y ago
This has devolved into a semantic argument about wealth and pies. Part of the confusion isn't helped by one line in PG's essay: People think that what a business does is make money. But money is just the intermediate stage-- just a shortha
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by intellegacy 14y ago
You make a leap in the story there when you assume that the incumbent will discover the innovation. It is so subtle too: and one of them happens upon the fact I don't think its that easy, and the story could have turned out a number of di
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by intellegacy 14y ago
Um, no. Nothing in the economy is zero sum. Wealth is constantly being created and transferred. Created and transferred are two different things. Created means new wealth is generated through increased efficiency or innovation. The pie ge
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by intellegacy 14y ago
It seems to me that the industries most kinds of 99% businesses enter is zero-sum, which means helping new businesses only hurts the profit of other new businesses or incumbents. Ergo I question what value from an overall economic perspecti