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I think it's safe to say that invidious comparisons between people will never become redundant, given human nature. The poorest man on earth may be living a life beyond the dreams of kings a millenium ago, but that's not who he'll be comparing himself with.
I think it's safe to say that invidious comparisons between people will never become redundant, given human nature. The poorest man on earth may be living a life beyond the dreams of kings a millenium ago, but that's not who he'll be comparing himself with.
Sure, there will always be differences, but we are not talking about equality; we are discussing redundant wealth.
As we achieve a better standard of living through technology there will be a ceiling where extra wealth buys you nothing else. Ar that point those folks reach the status of redundant wealth. And then------over time-------folks that are behind eventually catch up. However, some things cannot be purchased with money so there is no equality.
You can never be too rich. Who ever told you that has no idea what it means to be rich. The only way to take that money away from people that earned it for the most part, or inherited it to a lesser extent, is to change the laws within our nation and to get rid of the Constitution.
The majority of wealthy people made their money honestly. They did not steal it from anyone. They are not out to get you or anyone else. The wealthy not only want you to succeed but know that you can succeed. On top of that to make sure that generations of people have the education and opportunities that many of today's rich enjoy, many of the uber rich are giving what they have away. George Lucas just announced that he would be spending his own money to build low income housing in one of the highest cost places in California. He owns the land and has the ability to do that. His goal is to give all of his money away by the time he dies. Many within the 1% have signed giving pledges where they are giving a majority if not all of their money away.
That is because they have redundant wealth which is a good thing. So how could you say "You can never be too rich"?
Nothing wrong with wealth. In fact, I wish there were many more wealthy people. As long as they are not crony capitalists it is OK
Lets look at what wealth does for someone. The wealthiest people help others become wealthy. Look at Microsoft. One single company. What has that company done for the economy? That company alone created lots of Millionaires within the company and a few billonaires as well. It also helped to create many more millionaires outside of the company that built support business operations. Other people that created business opportunities that would enhance the Microsoft bottomline were also rewarded. Thousands of business operations were able to use what the company created to grow wealth faster. All of these companies hire people and offer them employment. All this from money that was reinvested into the Microsoft company or used to purchase other business units.
Money does not sit in a bank vault doing nothing. Money is used to build more wealth. In the process that wealth helps many many more people enjoy a better life. I wish Bill Gates could have managed to build a Trillion Dollar Fortune. I wonder how many more people would have become wealthy because of the Gates fortune.
That is just one man and I can share hundreds of stories just like it.
On a smaller note and more to home for me. I have a close friend that started a lumber company. He sold lumber to builders. That company became a multi million dollar operation. Another friend had been doing sales for a window manufacturer. He was so successful that the company split up his region. That upset him and he ended up leaving the company. At a party the two of these guys are talking. The one that owns the lumber company invests money into helping the other one start his own window and door company. That company ends up growing to seven Southern California locations. Both of these guys made money on the deal. Both companies have since merged into larger companies and both of these guys are now retired. Still the point is that money grows money.
The best thing that you can do is have the wealthy become even more wealthy. You want them to have so much money that they can invest in other peoples ideas. Which is really the way to get wealth anyway. Build your own idea and grow it. Take that idea to others and see if they will buy into it. Let those that have money teach you how to make money from your idea. Many of us can now see how that works with the show Shark Tank. The real deal is that is how things have happened for decades. Money is made from other peoples money. These are people that are wealthy now. Give them a part of your action and they will help you become one of them.
Lets look at what wealth does for someone. The wealthiest people help others become wealthy. Look at Microsoft. One single company. What has that company done for the economy? That company alone created lots of Millionaires within the company and a few billonaires as well. It also helped to create many more millionaires outside of the company that built support business operations. Other people that created business opportunities that would enhance the Microsoft bottomline were also rewarded. Thousands of business operations were able to use what the company created to grow wealth faster. All of these companies hire people and offer them employment. All this from money that was reinvested into the Microsoft company or used to purchase other business units.
Money does not sit in a bank vault doing nothing. Money is used to build more wealth. In the process that wealth helps many many more people enjoy a better life. I wish Bill Gates could have managed to build a Trillion Dollar Fortune. I wonder how many more people would have become wealthy because of the Gates fortune.
That is just one man and I can share hundreds of stories just like it.
On a smaller note and more to home for me. I have a close friend that started a lumber company. He sold lumber to builders. That company became a multi million dollar operation. Another friend had been doing sales for a window manufacturer. He was so successful that the company split up his region. That upset him and he ended up leaving the company. At a party the two of these guys are talking. The one that owns the lumber company invests money into helping the other one start his own window and door company. That company ends up growing to seven Southern California locations. Both of these guys made money on the deal. Both companies have since merged into larger companies and both of these guys are now retired. Still the point is that money grows money.
The best thing that you can do is have the wealthy become even more wealthy. You want them to have so much money that they can invest in other peoples ideas. Which is really the way to get wealth anyway. Build your own idea and grow it. Take that idea to others and see if they will buy into it. Let those that have money teach you how to make money from your idea. Many of us can now see how that works with the show Shark Tank. The real deal is that is how things have happened for decades. Money is made from other peoples money. These are people that are wealthy now. Give them a part of your action and they will help you become one of them.
Great post and I agree 100%.
Note, how all the examples you mentioned do not include crony capitalism which simply moves capital from one pocket to another with no wealth creation.
If your scheme become exponential we could reach a point of redundant wealth. There has to be a ceiling somewhere.
The "poor" in the USA are so much better off than the "poor" anywhere else in the world...
Ive always had a problem with this line of thought. Its a relative comparison to your community not someone somewhere else under a whole different system and culture. The poor here are often trapped in their conditions and cant escape it, just because someone on the other side of the planet has it worse, doesnt mean the poor here should somehow feel grateful....
Ive always had a problem with this line of thought. Its a relative comparison to your community not someone somewhere else under a whole different system and culture. The poor here are often trapped in their conditions and cant escape it, just because someone on the other side of the planet has it worse, doesnt mean the poor here should somehow feel grateful....
The same concept applies when comparing today's poor with those that were poor 200 years ago. No comparison, it was another era.
But the fact that a poor person from 21st century has much more than a 19th century poor suggests we are improving the standard of living. In fact a 21st century poor may have a longer lifespan that a 19th century middle class.
When the standard of living improves at a faster rate among those in the lower social strata we may see some compression in the system.
When the billionaires cannot improve their standard of living anymore they have reached redundant wealth which may benefit those below.
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