tag:blogger.com,1999:blog-8552616.post8340466776045092063..comments2023-10-11T07:06:43.878-04:00Comments on Puntocracy: Is Wealth Zero SumRoycehttp://www.blogger.com/profile/06512845138486873008noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-8552616.post-3019576227120336922012-08-14T05:30:57.856-04:002012-08-14T05:30:57.856-04:00Interesting post. Particularly the idea of "f...Interesting post. Particularly the idea of "fake wealth". A fact that is particularly distressing given the fact that 40% of the US economy is financial services.<br /><br />The idea that wealth can be created is a good one. Barren land made fertile, for example (which I think you pointed out). If paper wealth is false, than the real wealth of fertile land is the enrichment the beneficiaries. <br /><br />Perhaps that is the real problem today, the economy geared towards fake wealth, versus enriching real wealth. Something to think about.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8552616.post-85783645778630610852012-08-14T05:29:53.764-04:002012-08-14T05:29:53.764-04:00Interesting post. Particularly the idea of "f...Interesting post. Particularly the idea of "fake wealth". A fact that is particularly distressing given the fact that 40% of the US economy is financial services.<br /><br />The idea that wealth can be created is a good one. Barren land made fertile, for example (which I think you pointed out). If paper wealth is false, than the real wealth of fertile land is the enrichment the beneficiaries. <br /><br />Perhaps that is the real problem today, the economy geared towards fake wealth, versus enriching real wealth. Something to think about. Anonymoushttps://www.blogger.com/profile/12497001538164998102noreply@blogger.comtag:blogger.com,1999:blog-8552616.post-50491526054634069852012-05-27T11:38:32.440-04:002012-05-27T11:38:32.440-04:00Of course this response doesn't really address...Of course this response doesn't really address the subject of wealth creation other than from the point of view of currency. Furthermore, it wanders off into the subject of wealth redistribution. I have posted a longer rebuttal as "Is Wealth Zero Sum - revisited".Roycehttps://www.blogger.com/profile/06512845138486873008noreply@blogger.comtag:blogger.com,1999:blog-8552616.post-68654804753193958502012-05-23T21:49:51.662-04:002012-05-23T21:49:51.662-04:00I agree "wealth" as an abstract can be e...I agree "wealth" as an abstract can be easily generated, changed, and destroyed; however, actual currency, which I'll estimate as $5 Trillion USD ($1,000 in USD as of May 2011, US $1,185 in Euros as of May 2011, the rest in various other global currencies estimated) is not being created at any skyrocketing pace given many countries are using a floating currency based on the USD or EUR anyways (as of 1971). Even if there was a +/- 5% change in total global currency yearly, it would still make the global market values a zero sum game.<br /><br />I can claim the "value" of my iPad is actually $200K USD, but it's not going to change my bank account only having $1K USD. What would change my personal wealth amount is economic policies which distribute wealth based on effort and not luck (born into a wealthy family, making a successful company in 1 year vs running a business for 10 that fails despite wise and informed decisions). I'm glad that parts of the EU place caps on executive compensation, it's ridiculous to think that a single person needs more then $300K a year to live, even with a family. Without social, political, and economic caps on largess, inequality has become the natural state of being. Few sane people would turn down a $3million USD paycheque yearly; few will take that $3million and give it to their employees; we've created a system the rewards excessive greed and encourages inequality; which is made reality because of a zero-sum state of global currency.<br /><br />When viewing currency exchanges on a micro scale, yes "wealth is created," but not on a global scale. Instead debt is transferred. Any financial transaction is based on actual currency, which needs to exist somewhere for that transaction to be made. When $50 Million USD is invested in a bonds market or stock, it must exist to be invested. There are secondary markets where no wealth is required immediately, but ultimately real currency is needed for a transaction to transpire. I can't will $100 million USD into existence.<br /><br />If you can refute this, I'd be very interested to hear; please be detailed.Anonymousnoreply@blogger.com