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View Diary: Neo-feudalism and neo-nihilism (53 comments)

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  •  Richest Americans (1+ / 0-)
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    cynndara

    The graph of wealth of the richest Americans through the 20th century alongside the wealth of the rest of society is a distinct U shape, with the richest being much poorer compared to the masses than they've been since

    .

    This makes sense to me only if one thinks of money as being a physical thing that has a limited supply.

    But even if you think that way, you must note that the world's wealth has grown over time, which you would attribute to an increased production of goods--so limited wealth can increase but still not be unlimited.

    However, goods production is not the only source of wealth. There are also services, and there also is the funny money generated by the banksters.

    I claim that money is a non-material thing, a social contract, a psychological construct, so that it follows that the quantity of money in the world can be virtually unlimited if we agree that it is. We invented money, and so we can modify our invention or even eliminate it if we wish.

    I don't have statistics for this claim, but I would wager that most of the world's money is not used to purchase physical stuff.

    Defining money as non-material would allow governments to end poverty by instituting a Basic Income Guarantee and many other beneficial programs.

    Please see my earlier diary http://www.dailykos.com/... and also on European Tribune http://www.eurotrib.com/...

    Thank you for your thoughtful comments.
    Cheers, psyched

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