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Degrees of Wealth

jaapgrolleman.com

11–20 of 85 posts

Re: Degrees of Wealth

#11

This is an insightful article but it misses the elephant in the room, which is wealth inequality . In Shanghai, there is vastly more wealth inequality than in Netherlands. The reason why nannies are affordable in China is because those nannies aren't paid very much, and consequently enjoy a much lower standard of living than their employers. In Netherlands, nannies are relatively expensive, but you the employee is mu…

There’s a term for what the last sentence expresses: John Rawls’ “Veil of Ignorance”.

Re: Degrees of Wealth

#12

In Denmark we briadly call this distinction "the good life" (det gode live). Children are usually made to write something (an essay mostly) about it during their last few years in public school. The concept is exactly the philosophical implications of what a "good" life even is. How you can maintain and sustain a "good" life in a world where everyone else is trying to do the same. How your "good" life will sometimes…

Wealth is not a terrible measure of good life. "Money does not bring happiness" is a trope that rich people would like poor people to believe. I don't think poor people fall for it, though.

The more accurate version is "Money does not bring happiness, but poverty really sucks."

A billionaire is not orders of magnitude happier than a millionaire. But a millionaire is much happier than someone who is worried about being able to pay rent, afford food, etc.

Thus, the solution to maximize happiness is to distribute wealth evenly.

Re: Degrees of Wealth

#14
post #11

This is an insightful article but it misses the elephant in the room, which is wealth inequality . In Shanghai, there is vastly more wealth inequality than in Netherlands. The reason why nannies are affordable in China is because those nannies aren't paid very much, and consequently enjoy a much lower standard of living than their employers. In Netherlands, nannies are relatively expensive, but you the employee is mu…

There’s a term for what the last sentence expresses: John Rawls’ “Veil of Ignorance”.

Thanks. I knew that I had read about that thought experiment somewhere but couldn't recall the name.

Re: Degrees of Wealth

#15

In Denmark we briadly call this distinction "the good life" (det gode live). Children are usually made to write something (an essay mostly) about it during their last few years in public school. The concept is exactly the philosophical implications of what a "good" life even is. How you can maintain and sustain a "good" life in a world where everyone else is trying to do the same. How your "good" life will sometimes…

Wealth is not a terrible measure of good life. "Money does not bring happiness" is a trope that rich people would like poor people to believe. I don't think poor people fall for it, though.

Wealth is objectively a poor measure of a good life, past a threshold. Scientific studies have shown that yes, up to a level of wealth (e.g. being able to not worry about food, shelter, and future security), improving wealth improves happiness. After that, reported levels of happiness do not really change with wealth.

Re: Degrees of Wealth

#16

This is an insightful article but it misses the elephant in the room, which is wealth inequality . In Shanghai, there is vastly more wealth inequality than in Netherlands. The reason why nannies are affordable in China is because those nannies aren't paid very much, and consequently enjoy a much lower standard of living than their employers. In Netherlands, nannies are relatively expensive, but you the employee is mu…

I do worry that the “app / gig economy” independent contractors with weak i9 verification is basically trying to import the developing-world inequality permanent underclass service sector here.

Re: Degrees of Wealth

#17

Earlier quoted context omitted.

Wealth is not a terrible measure of good life. "Money does not bring happiness" is a trope that rich people would like poor people to believe. I don't think poor people fall for it, though.

The more accurate version is "Money does not bring happiness, but poverty really sucks." A billionaire is not orders of magnitude happier than a millionaire. But a millionaire is much happier than someone who is worried about being able to pay rent, afford food, etc. Thus, the solution to maximize happiness is to distribute wealth evenly.

I wouldn't say they're happier. They have other things they're stressed about. An undisciplined mind finds things to be dissatisfied with no matter what the financial situation of the individual. Billionaires have desires and aversions just like people living in poverty. Yes, those desires and aversions are about different things but its the mechanism of desire and aversion that causes unhappiness not the external situation.

Re: Degrees of Wealth

#18

This is an insightful article but it misses the elephant in the room, which is wealth inequality . In Shanghai, there is vastly more wealth inequality than in Netherlands. The reason why nannies are affordable in China is because those nannies aren't paid very much, and consequently enjoy a much lower standard of living than their employers. In Netherlands, nannies are relatively expensive, but you the employee is mu…

In fact, a lot of wealth is only created by inequality. If wealth is power to effect your will, you have more of it when others are more desperate. The Shanghai wealthy have to spend less to get the same service - they have more real dollars DIRECTLY BECAUSE someone else has less.

Re: Degrees of Wealth

#19

This is an insightful article but it misses the elephant in the room, which is wealth inequality . In Shanghai, there is vastly more wealth inequality than in Netherlands. The reason why nannies are affordable in China is because those nannies aren't paid very much, and consequently enjoy a much lower standard of living than their employers. In Netherlands, nannies are relatively expensive, but you the employee is mu…

This is striking. So much for the "socialist" society in China as opposed to "capitalist" in Netherlands.

Re: Degrees of Wealth

#20

This is an insightful article but it misses the elephant in the room, which is wealth inequality . In Shanghai, there is vastly more wealth inequality than in Netherlands. The reason why nannies are affordable in China is because those nannies aren't paid very much, and consequently enjoy a much lower standard of living than their employers. In Netherlands, nannies are relatively expensive, but you the employee is mu…

Its astonishing how many people miss that if you have servants, you must be an elite, as by definition, we cannot each have 5 servants.
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