Re:A new analysis of how the world’s wealth is distributed
by jasonkester on Friday November 25, 2016 @05:36AM
(#13035723)
You're mistaken on this point as well. You absolutely can make assets. You can create wealth.
For an example, I live off the profits of a SaaS business that I built myself. In addition to creating wealth for me, it is in fact an asset that I can sell if ever I want. It genuinely is "money" poofed into existence out of nowhere.
All we've actually done is add an extra zig in to the capital flow I described above. So before, we had Joe earning a dollar, using it to buy a donut from the grocer who puts it in to the bank. Now, Joe gives that dollar to me in exchange for my service, and I use it to buy that donut.
No central authority decided to increase the wealth supply. I did it myself.
For an example, I live off the profits of a SaaS business that I built myself. In addition to creating wealth for me, it is in fact an asset that I can sell if ever I want. It genuinely is "money" poofed into existence out of nowhere.
All we've actually done is add an extra zig in to the capital flow I described above. So before, we had Joe earning a dollar, using it to buy a donut from the grocer who puts it in to the bank. Now, Joe gives that dollar to me in exchange for my service, and I use it to buy that donut.
No central authority decided to increase the wealth supply. I did it myself.