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in reply to Neil E. Hodges

smellsofbikes
smellsofbikes
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emotionally I really like this but - and I argue about this a lot - I'm not sure that rich people money does just sit. They invest it, and it's doing something there.
More generally: is it actually possible to waste money, aside from lighting cash on fire? Even buying yachts means employment for yacht builders, and what that is, is a waste of human effort, not money.
I'm curious about the concept, not deriding it: I want to know more about the "rich money is idle" idea.
in reply to Neil E. Hodges

cy
cy
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Also important is locality of money. If the street vendor uses the $10 to take a bus across the mountains into the next state, then your community just lost $10. Extend that to its logical conclusion, and apparently Wal*mart's bank account in the Cayman Islands is worth billions of your hard-earned wages. The ideal situation is when money orbits within a geographic area, rather than flooding into, or draining out of it.

Which is why you should make friends. Local currency can't get so stolen. Impartial global currency can.

Neil E. Hodges reshared this.

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