Thursday, December 19, 2024

Quote of the Day: 19 December 2024 #QotD

“[T]here is no fixed or predestined total amount of income or wealth to be shared. If some people are creating more wealth than they are receiving as income, then they are _not_ making other people poorer. But if they are creating products or services that are worth less than the income they receive, then equally clearly they _are_ making other people poorer.” -Thomas Sowell
“[T]here is no fixed or predestined total amount of income or wealth to be shared. If some people are creating more wealth than they are receiving as income, then they are not making other people poorer. But if they are creating products or services that are worth less than the income they receive, then equally clearly they are making other people poorer.” -Thomas Sowell
[The error so many fall into of thinking that there is a fixed amount of wealth is pervasive. I used to believe the same, when I was a child. I have since learned the difference between value, wealth, and money. But I don't know that I could convince someone else of the things I have come to realize about them.]

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