Comment Re:Inequality is actually good (Score 1) 1186
Money is not zero-sum, just because some CEO gets a lot of money doesn't mean I get less.
This is not true. The money supply is limited, and without this limitation it becomes worthless (this is exactly what happens when currencies experience runaway inflation). When one person has more of it, others have less.
Consider this from a slightly different angle. Money does not have intrinsic value. It derives value from the possibility of exchanging it for goods and services. The amount of goods and services available is clearly limited. A rich CEO spending millions on a private jet *does* have an effect on others; all of the labor and resources used to build this jet are not available for producing other goods that might be of use to other people.
This is not true. The money supply is limited, and without this limitation it becomes worthless (this is exactly what happens when currencies experience runaway inflation). When one person has more of it, others have less.
Consider this from a slightly different angle. Money does not have intrinsic value. It derives value from the possibility of exchanging it for goods and services. The amount of goods and services available is clearly limited. A rich CEO spending millions on a private jet *does* have an effect on others; all of the labor and resources used to build this jet are not available for producing other goods that might be of use to other people.
