Where does wealth come from?

Kaj · **Joined:** Wed Dec 06, 2006 1:00 am **Posts:** 392

Quinny wrote:

OK - there's a lot on this board who know a helluva lot more than me about the stock market and investing, but where does wealth originate.

It's my belief that all wealth comes from the application of labour to the earths natural resources to create useful goods.

All the other layers basically mask the fact that the workers are the creators of wealth.

Anyone disagree?

Agree 100%

The market fundamentalist lie is that wealth comes from markets.

It comes from the transforming power of human labour.

Quinny · **Joined:** Thu Jul 03, 2008 12:00 am **Posts:** 1480

Kaj - Doesn't look like anyones got a better idea!

Maybe we're right.

nobodypanic · **Joined:** Mon Jun 02, 2008 12:00 am **Posts:** 885

SpringCreekFarm wrote:

Where does the value of $1 come from?

faith.

Javaman · **Joined:** Wed Jun 18, 2008 12:00 am **Posts:** 233

Kaj wrote:

Quinny wrote:

OK - there's a lot on this board who know a helluva lot more than me about the stock market and investing, but where does wealth originate.

It's my belief that all wealth comes from the application of labour to the earths natural resources to create useful goods.

All the other layers basically mask the fact that the workers are the creators of wealth.

Anyone disagree?

Agree 100%

The market fundamentalist lie is that wealth comes from markets.

It comes from the transforming power of human labour.

Why don't you read the Bloomberg article mentioned in the "Farm Credit Squeeze" thread, and then get back to us.

Quinny · **Joined:** Thu Jul 03, 2008 12:00 am **Posts:** 1480

Read it. What's to get back to you about?

mattduke · **Joined:** Fri Oct 28, 2005 12:00 am **Posts:** 2576

If you have to ask where wealth comes from, you obviously haven't been creating much.

Quinny · **Joined:** Thu Jul 03, 2008 12:00 am **Posts:** 1480

Certainly not recently!

I've made a lot of money in my time, but only within the current system.

So are you saying the original premise is wrong?

mattduke wrote:

If you have to ask where wealth comes from, you obviously haven't been creating much.

Javaman · **Joined:** Wed Jun 18, 2008 12:00 am **Posts:** 233

Quinny wrote:

Read it. What's to get back to you about?

Give us a short paragraph that summarizes the article, so that we'll know you understood it.

Quinny · **Joined:** Thu Jul 03, 2008 12:00 am **Posts:** 1480

Please sir can I do my tables instead?

Cheeky B*gger!

The credit is only needed because of the f*cked up system that permates all our industry including agribusiness.

Javaman wrote:

Quinny wrote:

Read it. What's to get back to you about?

Give us a short paragraph that summarizes the article, so that we'll know you understood it.

charliebrownout · **Joined:** Thu Apr 17, 2008 12:00 am **Posts:** 294

Quinny wrote:

OK - there's a lot on this board who know a helluva lot more than me about the stock market and investing, but where does wealth originate.

It's my belief that all wealth comes from the application of labour to the earths natural resources to create useful goods.

All the other layers basically mask the fact that the workers are the creators of wealth.

Anyone disagree?

The Archdruid Report has a wonderful post on "abstraction". It is definitely worth a read.

Fiat money, I think, has something to do with pixie dust. To my understanding, the "credit crunch" or "market downturn" or "depression" or "meltdown" caused all the pixies to die off en masse.

Now, some folks are trying to get other folks to clap and shout "I do believe in fairies, I do, I do" but no one really believes in pixies or fairies all that much any more.

So, we're in trouble.

As for your thoughts on "real wealth"...I agree. Real wealth is tangible and doesn't involve fuzzy math.

Of course, I could be wrong, but I don't think so.

As for what is actually valuable in this life. I would say love, and the ability to live simply and in harmony with nature/your fellow man.

Javaman · **Joined:** Wed Jun 18, 2008 12:00 am **Posts:** 233

Quinny wrote:

Please sir can I do my tables instead?

Cheeky B*gger!

The credit is only needed because of the f*cked up system that permates all our industry including agribusiness.

Javaman wrote:

Quinny wrote:

Read it. What's to get back to you about?

Give us a short paragraph that summarizes the article, so that we'll know you understood it.

You don't seem to recognize that without capital and modern technology, there won't be enough food. Human labor alone probably isn't sufficient.

So why don't you see if you can convince someone to provide the seeds, pesticides and fuel to the farmers. You can provide the fertilizer.

Quinny · **Joined:** Thu Jul 03, 2008 12:00 am **Posts:** 1480

We can't carry on the way we are, as much of the production is dependent on fossil fuel anyway!

I suppose from your name you don't believe that peak oil will have any impact on agriculture.

but ...

Where do you think the capital came from?

Starvid · **Posted:** Mon Oct 27, 2008 2:33 pm

New wealth/value is created where labour (more or less skilled manpower), capital (machines, infrastrucuture, financial capital etc) and land (that is, natural resources) converge.

As simple as that.

Quinny · **Joined:** Thu Jul 03, 2008 12:00 am **Posts:** 1480

Seems good to me!

JPL · **Posted:** Mon Oct 27, 2008 3:09 pm

I remember reading somewhere that wealth was a printed version of human labour.

Work you have done = cash in your pocket.
Work you have yet to do = credit.

Probably an old manual though. Damn marxists (grin)...

JP

Where does wealth come from?

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