There was a post on another site on how wealth is created.
Well, let's try MY explanation:
Wealth = Money x Time x Effort x Knowledge
Now the neat thing about Money, Time, Effort and Knowledge is that it does not have to be yours!
A business owner makes money off the effort of others. A stock broker uses knowledge to make money for others. Someone who inherits money and invests it over time also can become wealthy.
The problem that I see is what if people don't have access to the basic formula. If someone does not have access to knowledge then they cannot develop wealth. Or if some one has special access to money, they are ahead of the game. Too much of today's economic war is keeping people from the tools to create wealth, rather than improving your own situation.
The old saw that money makes money is probably truer today than ever before. The question is how do we restore the balance so everyone at least has access to the formula. If we admit that is not possible, where do we go from here?
ChrisZ
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