Re:Why Isn’t the Whole World Rich?
by imtringued on Thursday November 24, 2022 @06:43AM
(#33730221)
The problem is that people think money is wealth, it is merely a claim to wealth. Each dollar is backed by a dollar of debt. That makes sense but it doesn't mean having more dollars means more wealth, it just means more dollars are necessary to run the economy.
If anything, a worshipping of money as wealth results in the opposite problem. People think they are wealthier than they are and then get disappointed, which is why governments and economists insist on permanent growth as debt increases.
A lot of wealth is not in the form of a stock but in the form of a flow. The wealth is alive so to speak and you must keep it alive if you want to benefit.
If anything, a worshipping of money as wealth results in the opposite problem. People think they are wealthier than they are and then get disappointed, which is why governments and economists insist on permanent growth as debt increases.
A lot of wealth is not in the form of a stock but in the form of a flow. The wealth is alive so to speak and you must keep it alive if you want to benefit.