Wealth Creation?

[manifold]

Wealth cannot be created.

Economics is the distribution of resources.


That's it and that's all it will ever be.


Everything we have comes from the ground, a plant, or an animal. We currently don't have any other source for the things we own.


Wealth is having a lot of resources.

Johnny come lately here makes some interesting points.

I look forward to the rebuttals that will surely follow.

 

[manifold]

So that's it huh?

You're all happy to just let ItsFairmont jump in after you've all said your piece, completely rebut all you've had to say and win the debate with one single post?

Well, I guess it is pretty solid.

ItsFairmont - 1
The field - 0

 

[user_name_guest]

Can wealth really be "created?" or can it really only be transferred?

Sure it can be created. Create a product or service more valuable than the cost to create it and you've created wealth.

Are you sure? How is this not merely transferring wealth away from those that buy the product or service?

No one is holding a gun to the head of the consumer and saying "transfer your wealth for the product i serve."

Transferring wealth = Government taxation. Estate tax. Income tax. Sales tax. Unemployment tax. Social security tax. Talk about transfer of wealth. Look at the bailout to AIG. They transfer that wealth in the form of bonuses to executives. Or profits from banks recently. I wonder if any of that money was as a result of bailout money in the billions.

And by receiving revenue in return for the sale of product, someone gets paid for distributing the product, manufacturing the product, selling the product, and the people who invest in the company that makes the product.

 

[Iriemon]

Wealth cannot be created.

Economics is the distribution of resources.

That's it and that's all it will ever be.

Everything we have comes from the ground, a plant, or an animal. We currently don't have any other source for the things we own.

Wealth is having a lot of resources.

Sure, but not just resources have value and therefore wealth. In fact, processed resources that provide added value are more valuable. A bottle of sand and oil may have some value. Process them into a computer and you have something far more valuable (and therefore greater wealth) than the sum of the resources.

 

[manifold]

Wealth cannot be created.

Economics is the distribution of resources.

That's it and that's all it will ever be.

Everything we have comes from the ground, a plant, or an animal. We currently don't have any other source for the things we own.

Wealth is having a lot of resources.

Sure, but not just resources have value and therefore wealth. In fact, processed resources that provide added value are more valuable. A bottle of sand and oil may have some value. Process them into a computer and you have something far more valuable (and therefore greater wealth) than the sum of the resources.

Why must value and wealth be synonymous?

 

[Iriemon]

Wealth cannot be created.

Economics is the distribution of resources.

That's it and that's all it will ever be.

Everything we have comes from the ground, a plant, or an animal. We currently don't have any other source for the things we own.

Wealth is having a lot of resources.

Sure, but not just resources have value and therefore wealth. In fact, processed resources that provide added value are more valuable. A bottle of sand and oil may have some value. Process them into a computer and you have something far more valuable (and therefore greater wealth) than the sum of the resources.

Why must value and wealth be synonymous?

I supposed they don't. If something is not deemed to have any value, why would it constitute wealth?