| ▲ | wvenable 2 hours ago | |
Let me more specific. I am talking about wealth that is generated by capturing value from existing assets, transactions, and people rather than by producing new goods, services, or productivity gains. Examples are rent-seeking (making money through ownership, monopoly power, licensing, etc), financial extraction (financial manipulation, speculation, debt, and asset appreciation), housing and land appreciation, middlemen and platform fees, and corporate consolidation. This is contrast to building factories, software, infrastructure, or goods and services that didn't previously exist. What you might define as "creating". I don't know how you cannot buy something. You have to have a home, food, transportation, and even entertainment. The extraction economy has come to all of these things. Maybe fewer and fewer things are "worth the money" and that is a bad thing, don't you agree? I feel like you're not approaching this conversation in good faith. | ||