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by Manuel_D 132 days ago
> If you have no raise and your neighbor have a raise, then you are poorer

This is just factually wrong. If my neighbor gets a raise and I don't, and stuff costs the same amount then I have not gotten poorer. If my neighbor doubled his income tomorrow, how would I be any poorer? In theory, you could argue that his higher income results in inflation, but that's only the case if total productivity doesn't match the increase in the money supply.

Wealth is not zero sum: inflation adjusted wealth has increased over time: more houses and cars get built, more advanced industries increase productivity, etc. Wealth is not a fixed pie, the total amount of wealth in the world increases.
1 comments
JackSlateur 132 days ago
When minimal wage increases, everything costs more ..

Wealth has no intrinsic value, it is only relative to other and to what can be exchanged with money

The numbers may always go up but the things that can be exchanged does not. Hence the "you become poorer"

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Manuel_D 131 days ago
> The numbers may always go up but the things that can be exchanged does not.

No, the things that can be exchanged for money does go up. More houses get built, more cars are manufactured, etc. The total value of goods in the economy increases.

The economy is not zero sum.

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JackSlateur 131 days ago
You are absolutely right: after all, you repeated the same things multiple time so it must be true

Yes indeed, every body can have everything. In the end, everybody will have a palace near the beach, everybody will have a mansion with a qualitative neighborhood, everybody can have a mona lisa at home

(trying ad absurdum to see if it helps you)

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Manuel_D 131 days ago
You realize there's a vast gap between "everyone can have everything" and "the things that can be exchanged for money is static"?

We don't live in a post-scarcity society, but we also don't live in a world where economic output is zero sum.

If you have a 3 bedroom house, and your neighbor builds a palace on the beach, you still have a 3 bedroom house. Nothing was taken from you, someone else created a new asset.

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