A lie is an interesting argument?
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So you’d rather be a billionaire in 1918, knowing what you’d give up to do so? The line of reasoning is a valuable thought experiment to help people understand how innovation and growth have improved the lives of everyone, despite all the efforts to make people feel otherwise.
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I think the question resonates because, deep down, people realize that the "gift" of immense wealth doesn't bring happiness or contentment with life.
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I’ll take the money, thanks.
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We are very wealthy, but don't always realize it, To make it into the richest 1 percent globally, all you need is an income of around $34,000,.. today. Perception and reality collide.
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I believe that's the top 1% of wage earners. The top 1% of wealth holders have more than $700k in assets minus debt, a much different group.
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funny i dont have a cool mill in the bank like the cool multi-mills they had in the bank. lol
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If you do play that game you’d have to figure in the value of yesterday’s liberal arts education as compared to today’s ... gotcha’. But in any event time travel fantasies have no place in a valid measurement.
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Money is ultimately the value of human labour: it buys people's time, decides what is produced or not, what is done or not. Rockefeller had a fortune worth 2% of US GDP, equivalent to $360BN today. This would buy 13.6 billion man hours (at $25 p/h). That's what his wealth meant.
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Exactly. It's amazing that 99.9% of people don't look at it that way or have never been exposed to the concept. It seemed pretty obvious to me a long time ago. What am I buying when I buy a BMW? The labor of every person who worked on it, plus the profit of the owners.
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