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by jonallanharper
6147 days ago
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You've highlighted one of the most important fallacies in the modern liberal's mindset, in my opinion... PG touches on this: "The Pie Fallacy" in http://paulgraham.com/wealth.html My 2 cents on it: Wealth is created. Currency is a limited resource that represents that wealth. The value of a single unit of currency is increased every time more real wealth is created. Wealth is created when goods or services that people actually want are produced. |
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Completely unnecessary partisan drivel. The man asked a question and you made a useless generalization that shows, more than anything else, that you don't understand your opposition's socioeconomic philosophy.
However, you are correct, currency is simply a tangible representation of value. Wealth is not a zero-sum game. Consider a screwdriver. Physically, this screwdriver is simply its raw materials. However, by organizing the materials in the right way, this screwdriver becomes more than the some of its parts and increases its value accordingly. Thus, by selling this screwdriver for its perceived value, one can create wealth in the difference of costs vs. revenue. Of course, a simplistic example, but one that answers the question fairly well.
Edit: Maybe I should cite pg and get on the bandwagon...