Post
Topic
Board Economics
Re: Wealth is unlimited.
by
killer2021
on 05/07/2011, 10:10:07 UTC
Atlas is right.

Wealth is unlimited because the sweat that drips from your brow is what creates wealth. Technology is used to amplify the amount of goods and services that can be produced per man hour. Same thing for knowledge, knowledge helps amplify the amount of goods and services that can be produced per man hour. This is the primary concept that must be understood to understand that wealth is indeed unlimited. It is only limited by the amount of knowledge you have and the amount of labor you are willing to expend.

Also don't be confused by the literal meaning of unlimited. In this context the term unlimited means that wealth can be created without a limit as long as you are willing to think and work. If you use the literal meaning then you will interpret that wealth can be created at any amount without the use of human labor or knowledge.

The people who believe that wealth is not unlimited are the same people who think that if one person is becoming wealthly it is done so at the expense of others. This is the belief that encompasses the idea that, "the rich get richer and the poor get poorer." Which is totally false because the standard of living for any society is based on the amount of goods and services produced. So if someone is creating lots of wealth in the form of producing lots of goods and services then that person is making everyone's life better because we now have more goods and services to consume.

http://www.youtube.com/watch?v=7GK_fRM8SO0