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by ekianjo
3810 days ago
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> Most money is acquired through luck, inheritance, network effects, rents, and interests on investments. Inheritance -> heavily taxed about everywhere. rents -> you need capital in the first place to secure rents, so it means that somebody has produced some work in the first place to get it. Interests on investment exist to allow your money to be useful to other people trying new things and building their businesses. So it's a positive enabler. Not sure what you were trying to demonstrate. |
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For instance, the biggest reason top actors in hollywood succeed in capturing so much value is because starting in the late 1970's CAA ([1]) moved leverage in negotiations towards actors, not because they are so much better actors. If talent had less leverage, they would create as much value if they were paid less, but studios and their owners would capture the value.
Economy is a wealth creation platform but it does not come with an automatic "fair scoring" system.
[1] https://en.m.wikipedia.org/wiki/Michael_Ovitz