Comment by jay_kyburz
1 year ago
Some wealth is created. People build new things and sell them. Video Games or Programming Languages for example.
Some wealth is just transferred, like rent or interest.
It would be nice if everybody had somewhere to live for free, unfortunately, most people have to pay rent or interest on a mortgage to those that came before them.
> Some wealth is just transferred, like rent or interest.
Both of those are an exchange, not a transfer. Taxation is a transfer.
They may be an exchange, but they are not "creation".
We are arguing whether wealth flows to people who already have it, rather people who "create it". My augment is both.
An artist creates wealth by painting a beautiful painting. Then he exchanges that wealth for money.
At no point was wealth "transferred" to the artist.
McDonald's creates wealth by designing and building a system to deliver hamburgers. McDonald's then exchanges that wealth for cash from its customers.
BTW, who gives money to people who already have it? Not me. I doubt you do, either. I don't know anybody who does. The transactions are always exchanges - you are getting something in return.
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