Quote:
Originally Posted by vhawk01
No. It won't. The gap in American dollars between the haves and the have nots is growing but the gap in things thst actually matters continues to shrink at an astronomical rate.
This.
There really are two kinds of wealth. I call them ledger wealth, and goods and services wealth. Ledger wealth is stock, bonds, savings accounts, etc. Goods and services wealth is houses, cars, appliances, boats, clothes, etc. Ledger wealth doesn't really make you better off except you can exchange it for goods and services wealth(which means someone else must give up goods and services wealth in order for them to obtain the ledger wealth from you).
Since Goods and services are really the only kinds of wealth that makes people better off, that is the relevant wealth in determining the disparity between the haves and haves-not.
You could take all the billionaires in the world, line them up, shoot them in the head, and redistribute their wealth among everyone else. If you did that nobody's life improves significantly. The remaining people might have more ledger wealth but the rich don't use enough goods and services that redistributing it makes everyone significantly better off. The notion that the rich keep getting richer and the poor are getting poorer is left winged propaganda. Its an outright lie.