I wish that I was retired so that I would have more time to write what I’m thinking at the moment. I currently live in world of EBITDA and Net Revenue as a partner at a professional services firm. But seriously, at a very simplistic level, I believe capitalism at its core does not, and never pretended to have a heart. Therefore, it is really the function of governments to regulate and form good policy across the spectrum of dependencies. I’m a firm believer in a progressive tax system to support the moral mission of government. I know that is very simplistic, but it is the starting point of my argument. I understand it is much easier said than done.
Another aspect to consider is what are our definitions of wealth and capital? We often myopically focus on a very limited aspect of wealth. Thinking about wealth more broadly the idea of value creation completely expands.
In closing, my normal response to your essays - thank you for provoking my thinking
A lot of people (poor people, my people) are led to believe that owning a business is inherently immoral. That if you buy a thing for X, you should also sell it for X, which isnt the same price, it is at a loss of your time and energy.
I think whats really at play is that these folks can't or refuse to understand business, so they completely write it off as greed. Even though they participate everyday.
Ya. At some point I might do a piece on zero-sum thinking vs positive-sum thinking, which I think is what you're getting at.
Zero sum = The pie is limited, so taking a bigger piece means less for everyone.
Positive sum thinking = We're growing the pie. Cooperation, innovation, or resource expansion can create situations where everyone benefits, and everyone gets more pie regardless of how big a piece a particular person ends up with.
My experience is that positive sum thinking is absolutely alien to a large part of the population. They inherently don't believe in value creation, but think of everything as fixed. They hear about GDP numbers growing but don't just think this applies in a meaningful sense.
{...growing the pie...} Achievable ONLY by increasing output or efficiency ...
Do average Jane or Joe EVER think about the humungous amount of time, expertise , effort, resilience and willingness to take risk that is being invested by the very few into this endeavour ??? (Something not appliccable to the financial sector due to bail-outs)
Don't blame the plebes but the state-designed (but tax-payer-funded) criminal education-system geared only for one single purpose: obedient workers (at many levels) that NEVER do have any kind of questions or doubts about the status quo, zero knowledge about financial matters of the inner workings of a modern society/economy.
There's a loooong way ahead if humanity wants to overcome these fatal shortcomings.
Love the 1st. image with the passengers all looking to one side, beautiful large windows, ceiling fresco and tiled corridor ... Wonder what the WC looked like on an Air
"Someone has more, therefore I have less". Famine mentality. Envy and jealousy at the wheel.
There's a solid argument to be made that the poorest people have their highest quality of life in all of history. However, the the ever widening wealth gap also makes it invisible.
Going through a life of constant comparison and envy is hell.
I wish that I was retired so that I would have more time to write what I’m thinking at the moment. I currently live in world of EBITDA and Net Revenue as a partner at a professional services firm. But seriously, at a very simplistic level, I believe capitalism at its core does not, and never pretended to have a heart. Therefore, it is really the function of governments to regulate and form good policy across the spectrum of dependencies. I’m a firm believer in a progressive tax system to support the moral mission of government. I know that is very simplistic, but it is the starting point of my argument. I understand it is much easier said than done.
Another aspect to consider is what are our definitions of wealth and capital? We often myopically focus on a very limited aspect of wealth. Thinking about wealth more broadly the idea of value creation completely expands.
In closing, my normal response to your essays - thank you for provoking my thinking
If you ever have time to develop those ideas I'd be interested in reading them!
A lot of people (poor people, my people) are led to believe that owning a business is inherently immoral. That if you buy a thing for X, you should also sell it for X, which isnt the same price, it is at a loss of your time and energy.
I think whats really at play is that these folks can't or refuse to understand business, so they completely write it off as greed. Even though they participate everyday.
Ya. At some point I might do a piece on zero-sum thinking vs positive-sum thinking, which I think is what you're getting at.
Zero sum = The pie is limited, so taking a bigger piece means less for everyone.
Positive sum thinking = We're growing the pie. Cooperation, innovation, or resource expansion can create situations where everyone benefits, and everyone gets more pie regardless of how big a piece a particular person ends up with.
My experience is that positive sum thinking is absolutely alien to a large part of the population. They inherently don't believe in value creation, but think of everything as fixed. They hear about GDP numbers growing but don't just think this applies in a meaningful sense.
Thanks for your thougthful article !!! 👍👍👍 🔥🔥🔥
{...growing the pie...} Achievable ONLY by increasing output or efficiency ...
Do average Jane or Joe EVER think about the humungous amount of time, expertise , effort, resilience and willingness to take risk that is being invested by the very few into this endeavour ??? (Something not appliccable to the financial sector due to bail-outs)
Don't blame the plebes but the state-designed (but tax-payer-funded) criminal education-system geared only for one single purpose: obedient workers (at many levels) that NEVER do have any kind of questions or doubts about the status quo, zero knowledge about financial matters of the inner workings of a modern society/economy.
There's a loooong way ahead if humanity wants to overcome these fatal shortcomings.
Love the 1st. image with the passengers all looking to one side, beautiful large windows, ceiling fresco and tiled corridor ... Wonder what the WC looked like on an Air
Celeste domestic liner ... 🤣🤣🤣
Agree on the imagery! :-)
"Someone has more, therefore I have less". Famine mentality. Envy and jealousy at the wheel.
There's a solid argument to be made that the poorest people have their highest quality of life in all of history. However, the the ever widening wealth gap also makes it invisible.
Going through a life of constant comparison and envy is hell.