The philosophy of wealth creation

Discussion in 'Economy' started by manifold, Dec 28, 2009.

  1. manifold
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    manifold Diamond Member

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    A friend and former co-worker of mine periodically sends me thread starting material (I confess, he comes up with the good stuff, not me. :redface:). He is actually the person that got me into messageboards in the first place, but now he only likes to lurk and help out with a thread topic now and again. Until now, he has always requested that I take credit for whatever he sends me, and since it's usually pretty good, I do. But this time he's asked me to credit him. I didn't ask why, but I'm happy to oblige.

    Note to mods: If this violates the rules in any way at all, I have no compunction whatsoever with going on record to state that Magus Perde is just a pseudonym I sometimes write under.

    The Philosophy of Wealth Creation
    by Magus Perde

    It is my philosophical understanding that wealth cannot be created. I contend that wealth adheres to a law similar to the law of conservation of energy:

    The law of conservation of wealth, as it were, would state that the total amount of wealth worldwide (an isolated system) remains constant over time. A consequence of this law is that wealth cannot be created nor destroyed. The only thing that can happen to wealth in a closed system is that it can change form…and ownership.

    A perfect example is Saudi Arabia. Their wealth was not created by oil. They used an abundant and valuable natural resource to extract wealth from the rest of the world. Add to this the fact that the term wealth was once synonymous with welfare and the point becomes all the more salient.

    Once one acknowledges and accepts this, a thing I believe to be an obvious truth, one then begins to understand the true nature of human competition.

    Happy New Year,

    Magus Perde
     
    • Thank You! Thank You! x 1
  2. uscitizen
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    uscitizen Senior Member

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    Wealth is not a pure closed system, but closer than most realize.
     
  3. xsited1
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    xsited1 Agent P

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    :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol:

    Shouldn't this be in the humor section?

    :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol:
     
  4. uscitizen
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    uscitizen Senior Member

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    No more so than the right wing concept that if it is good for the market or corporations it is good for America.
     
  5. manifold
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    manifold Diamond Member

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    Compelling rebuttal indeed. :eusa_think:
     
  6. Ravi
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    Ravi Diamond Member

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    That Perde boy is sometimes wicked smart.
     
  7. xsited1
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    xsited1 Agent P

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    As a Physicist, I can certainly relate to the (Incorrect) Physics analogy that Prego is trying to use, but of course it's wrong. To even suggest that it's a zero-sum game is hilarious! This has been done year after year and has always been proven to be false. Has he not read "The Wealth of Nations" or done a simple google search to study this simple concept? There is so much available online, you'd have to be living under a rock not to see this. Okay, so you want a rebuttal? There are so many, where to start? Again, do a google search. Here's one that popped up:

    Coyote Blog » Blog Archive » Wealth Creation and the Zero-Sum Fallacy

    There are hundreds of thousands more. Have fun!
     
  8. kwc57
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    kwc57 BOHICA Obama

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    Mani, just curious why you chose the religion forum for this thread?
     
  9. manifold
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    manifold Diamond Member

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    I didn't.

    I chose the philosophy forum, which happens to piggy back on the religion forum.
     
  10. manifold
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    manifold Diamond Member

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    Your first one was better. At least you didn't pretend to have a rebuttal and fail.
     

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