Timeline for Why isn't everybody rich?
Current License: CC BY-SA 4.0
3 events
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| May 4, 2018 at 11:38 | comment | added | Kevin Keane | @rapt - A very good observation. I think that is pretty much what Rich had said earlier, but I like the way you phrased it. | |
| May 3, 2018 at 0:33 | comment | added | rapt | Even if everyone had no constraints whatsoever, and unlimited intelligence, education, and beauty, it would still be impossible for everyone to become rich, since money has only a relative value, not an absolute one. If everyone had $1 trillion it would be exactly like everyone having only $1. While money can truly be created by creating valuable things, economy IS roughly a zero sum game, since if everyone poor would create a NEW $1 M by just creating NEW valuables, that would take away the "richness" of every previously existing millionaire. | |
| May 2, 2018 at 22:59 | history | answered | Kevin Keane | CC BY-SA 4.0 |