And I'm sitting here being happy that my "stock fortune" approaches four digits.
World's richest 500 see their wealth increase by $1T this year
131–140 of 284 posts
Re: World's richest 500 see their wealth increase by $1T this year
#132As capitalism matures, it's clear to anyone with a thread of financial literacy that most wealth is created through capital gains rather than salary. We're approaching a state (at least in developed countries) where productivity is so high, that you can literally park your money in 500 of the biggest businesses and you're almost guaranteed a 7% annual return (if you hold stocks for the long term). Using the commonly…
> We're approaching a state (at least in developed countries) where productivity is so high, that you can literally park your money in 500 of the biggest businesses and you're almost guaranteed a 7% annual return (if you hold stocks for the long term).
I think this has been true for a long time. Maybe even the whole 20th century, if you average out the Depression. I think the main difference in the last 20 or 30 years is that the instruments for making that investment have gotten dirt cheap, in percentage terms.
Re: World's richest 500 see their wealth increase by $1T this year
#133A small percentage of bank accounts should be randomly swapped each year, and the owners of the swapped accounts become part of a reality TV show to follow how they dealt with their change of fortune
Re: World's richest 500 see their wealth increase by $1T this year
#134As capitalism matures, it's clear to anyone with a thread of financial literacy that most wealth is created through capital gains rather than salary. We're approaching a state (at least in developed countries) where productivity is so high, that you can literally park your money in 500 of the biggest businesses and you're almost guaranteed a 7% annual return (if you hold stocks for the long term). Using the commonly…
you seem to have growth all mixed up.
The previous historic rate was 10% growth. That was revised down to 7% (you seem to indicate its grown). going forward, we are probably looking at 5% growth going forward.
developing countries have much higher rates of return.
its true you can collect a lot off interest if you have 3 million $. but if that is all you do, inflation is going to tear you apart. you might be fine, but the next generation you leave everything to wont be so well off. a few generations and its nothing to write home about.
so if you want growth in a developed economy, you need to be entrepreneurial, and you need to take risks. thats the spirit of capitalism.
Re: World's richest 500 see their wealth increase by $1T this year
#135As capitalism matures, it's clear to anyone with a thread of financial literacy that most wealth is created through capital gains rather than salary. We're approaching a state (at least in developed countries) where productivity is so high, that you can literally park your money in 500 of the biggest businesses and you're almost guaranteed a 7% annual return (if you hold stocks for the long term). Using the commonly…
> In effect, late stage capitalism becomes the anti-thesis of the spirit of capitalism - devoid of competition, free innovation, and upward mobility.
The notion that competition, free innovation, and upward mobility have ever been the spirit of capitalism is not based in any historic evidence. It was evident as far back as Adam Smith's Wealth of Nations that the true spirit of capitalism is the eventual concentration of wealth, formation of mono- and oligopolies and creating barriers to entry through influencing regulatory agencies (government) with wealth.
The 3 notions you stated are mostly an idealistic lie sold to the naive, young, and temporarily impoverished millionaires.
My view may be a tad biased, since I'm only alive as a product of communism (without all the freebies my parents received, as far as education, free housing and benefits, I would likely not exist right now)
Re: World's richest 500 see their wealth increase by $1T this year
#136Earlier quoted context omitted.
If it is asymmetric, the superficially apparent mutual gain may be illusory, because—while many people think for moral or aesthetic reasons that this should not be the case—there is enormous empirical evidence that the actual experience of utility related to material position is very strongly driven by relative material position, which is often far more significant than absolute material position.
Parent is saying that it's better if everyone gets richer, even if some get more richer than others. So you're saying that it would be better if everyone was poorer individually, as long as they were more equally poor?
> So you're saying that it would be better if everyone was poorer individually, as long as they were more equally poor?
No, it's not at all that simple; there's both disutility associated with inequality and utility associated with absolute material position; how those net out is more complex than either “everyone getting more is better regardless of distribution” or “more equality is better regardless of how much per everyone gets”.
Re: World's richest 500 see their wealth increase by $1T this year
#137A small percentage of bank accounts should be randomly swapped each year, and the owners of the swapped accounts become part of a reality TV show to follow how they dealt with their change of fortune
That's called the lottery. A typical lottery winner will be back where they started after a few years.
Re: World's richest 500 see their wealth increase by $1T this year
#138Upvote this if you were at least 95% confident the markets would crash if Donald Trump became the POTUS.
Let's wait until he's done.
Re: World's richest 500 see their wealth increase by $1T this year
#139Earlier quoted context omitted.
Did Bill Gates exploit you? Please explain how.
Yes He used his power to push shitty and proprietary software into my industry, thus limiting the impact that properly developed software could have created. I had no choice in this and he used everything from back-room deals to flat out lies to achieve this.
> I had no choice in this and he used everything from back-room deals to flat out lies to achieve this.
And a couple of well documented crimes.
Re: World's richest 500 see their wealth increase by $1T this year
#140This article provides paragraph after paragraph of supporting data that the richest have gotten richer, but none that I can see supporting its claim that “billions of poorer people across the world have seen their wealth standstill or decline”.
That claim is not only unsupported, it's almost certainly false. The last few decades haven't been great for the middle class in wealthy countries, but it's been fantastic for "poorer people across the world." U.S. GDP per capita is up 60% since 2000. Bangladesh's is up 235%. India is up 288%. Thailand is up 195%. Poorer countries that have been able to cobble together enough rule of law to participate in capitalism have benefited tremendously from it.