When someone creates a product based on knowledge, we can all use that product at the same time. It’s as if we all own the product.
Yes, no… maybe
Maybe?
Love this work you do…to compare apples to apples…or rather records to mp3s
Gale, there are legitimate reasons to be concerned about a yawning wealth gap, but as is noted in this article, we need proper context.
Elon Musk doesn’t “have” his wealth in a bank or cash, it is mostly tied up in equity.
His wealth is a function of the value of the companies he started/runs. Who determines the value of those companies? We do!
If we don’t think their products/services have value, we don’t need to buy them. He is rich because those companies are creating value.
More importantly, the total number of dollars one has matters less than what one can do with those dollars.
On paper, the wealth gap is growing but measured in terms of what we can do with those dollars, we are becoming more equal.
You may like my essay on this, recently revised: https://www.lianeon.org/p/a-world-of-billionaires
Yes, no… maybe
Maybe?
Love this work you do…to compare apples to apples…or rather records to mp3s
Gale, there are legitimate reasons to be concerned about a yawning wealth gap, but as is noted in this article, we need proper context.
Elon Musk doesn’t “have” his wealth in a bank or cash, it is mostly tied up in equity.
His wealth is a function of the value of the companies he started/runs. Who determines the value of those companies? We do!
If we don’t think their products/services have value, we don’t need to buy them. He is rich because those companies are creating value.
More importantly, the total number of dollars one has matters less than what one can do with those dollars.
On paper, the wealth gap is growing but measured in terms of what we can do with those dollars, we are becoming more equal.
You may like my essay on this, recently revised: https://www.lianeon.org/p/a-world-of-billionaires