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Thread: The Creation Of Wealth

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    Default The Creation Of Wealth

    Since there seems to be some confusion about the creation of wealth I have decided it is a topic that needs to be discussed so the more ignorant among us can actually grasp who it is that creates the=is wealth, and who it is that is profiting from the labors of others to the extent that they have become pariahs in our world. We can start here.

    https://www.theguardian.com/commenti...nomy-parasites

    So entrenched is this assumption that it’s even embedded in our language. When economists talk about “productivity”, what they really mean is the size of your paycheck. And when we use terms like “welfare state”, “redistribution” and “solidarity”, we’re implicitly subscribing to the view that there are two strata: the makers and the takers, the producers and the couch potatoes, the hardworking citizens – and everybody else.

    In reality, it is precisely the other way around. In reality, it is the waste collectors, the nurses, and the cleaners whose shoulders are supporting the apex of the pyramid. They are the true mechanism of social solidarity. Meanwhile, a growing share of those we hail as “successful” and “innovative” are earning their wealth at the expense of others. The people getting the biggest handouts are not down around the bottom, but at the very top. Yet their perilous dependence on others goes unseen. Almost no one talks about it. Even for politicians on the left, it’s a non-issue.

    To understand why, we need to recognise that there are two ways of making money. The first is what most of us do: work. That means tapping into our knowledge and know-how (our “human capital” in economic terms) to create something new, whether that’s a takeout app, a wedding cake, a stylish updo, or a perfectly poured pint. To work is to create. Ergo, to work is to create new wealth.

    But there is also a second way to make money. That’s the rentier way: by leveraging control over something that already exists, such as land, knowledge, or money, to increase your wealth. You produce nothing, yet profit nonetheless. By definition, the rentier makes his living at others’ expense, using his power to claim economic benefit.

    This is an interesting example of what the article speaks of, or part of it anyway:

    http://inthesetimes.com/working/entr...porate_welfare

    Here is another part of the Amazon scam you will not hear about:

    http://inthesetimes.com/article/2157...pe-cities-data
    Last edited by Old Trapper; 02-19-2019 at 12:00 AM.
    "2Timothy 3 "But know this, that in the last days perilous times will come: For men will be lovers of themselves, lovers of money, boasters, proud, blasphemers, disobedient to parents, unthankful, unholy, unloving, unforgiving, slanderers, without self-control, brutal, despisers of good, traitors, headstrong, haughty, lovers of pleasure rather than lovers of God, having a form of godliness but denying its power. And from such people turn away"

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    Fallacy
    The Truth Does Not Need To Be Supported With Censorship.

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    Quote Originally Posted by Old Trapper View Post
    Since there seems to be some confusion about the creation of wealth I have decided it is a topic that needs to be discussed so the more ignorant among us can actually grasp who it is that creates the=is wealth, and who it is that is profiting from the labors of others to the extent that they have become pariahs in our world. We can start here.

    https://www.theguardian.com/commenti...nomy-parasites

    So entrenched is this assumption that it’s even embedded in our language. When economists talk about “productivity”, what they really mean is the size of your paycheck. And when we use terms like “welfare state”, “redistribution” and “solidarity”, we’re implicitly subscribing to the view that there are two strata: the makers and the takers, the producers and the couch potatoes, the hardworking citizens – and everybody else.

    In reality, it is precisely the other way around. In reality, it is the waste collectors, the nurses, and the cleaners whose shoulders are supporting the apex of the pyramid. They are the true mechanism of social solidarity. Meanwhile, a growing share of those we hail as “successful” and “innovative” are earning their wealth at the expense of others. The people getting the biggest handouts are not down around the bottom, but at the very top. Yet their perilous dependence on others goes unseen. Almost no one talks about it. Even for politicians on the left, it’s a non-issue.

    To understand why, we need to recognise that there are two ways of making money. The first is what most of us do: work. That means tapping into our knowledge and know-how (our “human capital” in economic terms) to create something new, whether that’s a takeout app, a wedding cake, a stylish updo, or a perfectly poured pint. To work is to create. Ergo, to work is to create new wealth.

    But there is also a second way to make money. That’s the rentier way: by leveraging control over something that already exists, such as land, knowledge, or money, to increase your wealth. You produce nothing, yet profit nonetheless. By definition, the rentier makes his living at others’ expense, using his power to claim economic benefit.

    This is an interesting example of what the article speaks of, or part of it anyway:

    http://inthesetimes.com/working/entr...porate_welfare
    If you are utilizing your land to provide a service, such as lodging, then you are producing a service. It's not really complicated unless you are a leftist.

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    GDP= sum total of goods and services in an economy. work produces wealth, but so does investing.
    wealth creation by investing is moving money around to accomplish business expansion or start ups.

    The renter example above provides housing for the tenet -the tenet works to pay the rent and buy food etc.
    So renting facilitates wealth creation -and renting mean more housing is built as that housing stock would remain dormant without a renter.
    By keeping housing in demand, that eventually means more housing has to be built -wealth creation by tangible goods and services.

    Socialism retards the movement of money and the creation of wealth -both needed to keep an economy moving.
    It retards the desire to innovate as the intellectual property is either controlled by the state or so highly taxed the R&D $$ used ( paid out by the inventor) is no longer worth the risk because the reward is gone.

    Money has to move in an economy. I agree piling it up in a bank and not investing it doesn't grow wealth.
    except even that gives the bank money to use for loans and other investment

    How about stocks? again the stock buyer is taking a risk that his investment earns money.
    But the investment also provides capital for the company to use to start up/grow

    Not that there isn't abuse in these system, which is why we regulate.

    good topic

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    The rich receive wealth, they do not create it
    "Do not think that I came to bring peace... I did not come to bring peace, but a sword." - Matthew 10:34

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    Quote Originally Posted by Howard the Duck View Post
    If you are utilizing your land to provide a service, such as lodging, then you are producing a service. It's not really complicated unless you are a leftist.
    There is no such thing as "your" land
    "Do not think that I came to bring peace... I did not come to bring peace, but a sword." - Matthew 10:34

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    Quote Originally Posted by The Muslim Brotherhood View Post
    There is no such thing as "your" land
    Whose land is it?

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    The 3 F and 2 M of wealth creation;
    Forestry, Farming and Fishing, Mining and Manufacturing.

    Everything else is parasitical.
    It is the responsibility of every American citizen to own a modern military rifle.

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    Goods and Services are not GDP?? I have no idea WTF "parasitical" means nor do I care

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    Quote Originally Posted by noise View Post
    Goods and Services are not GDP?? I have no idea WTF "parasitical" means nor do I care
    Did I mention GDP? Idiot
    I am talking about actual wealth, not a verbal construct.

    As stupid as you are, I am not surprised you don't know what a parasite is, but you are one. Leeches and mosquitoes are examples of parasites.

    Never seen anyone as proud of his ignorance as you.
    It is the responsibility of every American citizen to own a modern military rifle.

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    Quote Originally Posted by Rune View Post
    Did I mention GDP? Idiot
    I am talking about actual wealth, not a verbal construct.

    As stupid as you are, I am not surprised you don't know what a parasite is, but you are one. Leeches and mosquitoes are examples of parasites.

    Never seen anyone as proud of his ignorance as you.
    oh sure I had no idea of "parasitical" ROFL
    Obviously I need to speak s l o w l y for you.

    What is "parasitical in terms of economics/wealth creation? Nevermind i'm sure it's some 1/2 baked crock of crap

    Did I mention GDP? Idiot
    I am talking about actual wealth, not a verbal construct.
    WTF??? again..nevermind

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    Quote Originally Posted by noise View Post
    oh sure I had no idea of "parasitical" ROFL
    Obviously I need to speak s l o w l y for you.

    What is "parasitical in terms of economics/wealth creation? Nevermind i'm sure it's some 1/2 baked crock of crap

    WTF??? again..nevermind
    Retard.
    The 5 industries I mentioned create all wealth.
    All other industries I gave at least four examples but sales is another good example, simply suck some of the wealth out of the wealth stream as it passes by.

    That is what you do. You take a percentage of what you sell. The manufacturer creates the product (wealth) and you suck some of it as it passes through your hands.

    Note that GDP is not part of the topic, you introduced it to the thread.
    It is the responsibility of every American citizen to own a modern military rifle.

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    Quote Originally Posted by Rune View Post
    Retard.
    The 5 industries I mentioned create all wealth.
    All other industries I gave at least four examples but sales is another good example, simply suck some of the wealth out of the wealth stream as it passes by.

    That is what you do. You take a percentage of what you sell. The manufacturer creates the product (wealth) and you suck some of it as it passes through your hands.

    Note that GDP is not part of the topic, you introduced it to the thread.
    at least you have a viable idea for a change...about time.

    GDP IS wealth -goods and services produced by an economy. You can't discuss wealth creation without it.

    Your "parasitical" sounds like it's limited to a mercantilism policy of gold/ore and natural resources only being 'wealth'

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    Quote Originally Posted by The Muslim Brotherhood View Post
    The rich receive wealth, they do not create it
    Yep. From the article:

    "But far from squids and vampires, the average rich freeloader manages to masquerade quite successfully as a decent hard worker. He goes to great lengths to present himself as a “job creator” and an “investor” who “earns” his income by virtue of his high “productivity”. Most economists, journalists, and politicians from left to right are quite happy to swallow this story. Time and again language is twisted around to cloak funneling and exploitation as creation and generation."

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    If most people don’t earn their wealth how do they get it? Why do so many suckers go to work each day? What’s the secret to be rich and avoid it?

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