What do wealthy people buy, that ordinary people know nothing about? (2015)

Re:What do wealthy people buy, that ordinary people know not... by sgt101 on Monday May 19, 2025 @02:18PM (#44032953)

In the spirit of engaging in open conversation to try and broaden my mind and understanding, may I say that I feel your statement "The tax systems doesn’t create wealthy people, it just doesn’t cut their legs out from under them" begs a question: What is it that creates wealthy people?

I think that there are a few things that are needed for lots people to become wealthy (of course, the ability to exact physical violence on others can enable a few to become very very wealthy as well).

1) Property rights that are equally enforced. That you have important friends shouldn't give you the ability to take my business.

2) Liquidity. There needs to be mechanisms that enable investment.

3) Civil infrastructure & some sort of safety net. People who are frightened of what awaits their children, or them in their old age, or of sickness, are reluctant to invest. They will be happy to work themselves half to death, but even if they have enough money, they will be very very risk averse.

Is this what you think, or are there other mechanisms that you have in your mind?

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Re:What do wealthy people buy, that ordinary people know not... by al_borland on Monday May 19, 2025 @02:58PM (#44033475)

Those things can create an environment to help create, grow, and maintain wealth. I'd say actually creating it requires producing something of value to society with enough scale and margin to make a profit. Typically it requires doing this consistently for decades. There are a few exceptions to this, but by and large, it seems to be how things work, at least under capitalism.

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