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by amarkov 2969 days ago
You're mixing up levels of indirection. Financing the creation of businesses that create products people want to buy isn't itself an example of "practical products that provide value that the average working class person would want to spend money on".

You can say that what our system rewards is always derived from practical products the average person wants, but that doesn't seem like a useful way to think about things.

1 comments

Can you explain to me in simple words what you are refuting in your comment?

Nowhere did I suggest that the only way to become rich was to sell practical products. I will state that this is the primary way people acquire vast amounts of money and that whether people become rich via second order and abstract systems such as financing makes no difference. Ultimately the products would not exist without the financial system that was in place.

It's a lot easier to get a $250k position at Morgan Stanley than build a business generating $250k in profit. If more people go the latter route, that's just a matter of a larger denominator, not an indication of what's actually being rewarded.