Re:A catalog of wealth-creation mechanisms (2009)
by imtringued on Thursday October 07, 2021 @04:23PM
(#28791587)
Start out from a very simplified scenario: You do all work yourself.
It's pretty easy to see why this is inefficient. You need to duplicate equipment and experience. You need to travel long distances. You cannot work 24/7. Some work needs more than one person.
Since labor is the fundamental building block of a society you are better off if you can do something with less labor. You let someone else do the work because they can do it in less time than you can.
Jeff Bezos isn't rich because he is creating more value or wealth, he's rich because he is delegating work to lots of people. The CEO of a company is basically a monopoly no matter how big the company is.
It's pretty easy to see why this is inefficient. You need to duplicate equipment and experience. You need to travel long distances. You cannot work 24/7. Some work needs more than one person.
Since labor is the fundamental building block of a society you are better off if you can do something with less labor. You let someone else do the work because they can do it in less time than you can.
Jeff Bezos isn't rich because he is creating more value or wealth, he's rich because he is delegating work to lots of people. The CEO of a company is basically a monopoly no matter how big the company is.