Friday, February 27, 2015

To Share the Wealth of the Very Rich is Not Possible

The advantage of tipping most of the wealth toward the very rich is that they tend to spend very little of it. If it all were taxed away, and distributed to the poor, they would try to actually spend the wealth. The catch is that this wouldn’t actually result in the huge amount of goods needed to fill the needs of the less wealthy. There isn’t enough oil being extracted to build all of the cars and houses that the new-found wealth would buy (plus pay the wages of all of the people needed to build these things).

I am not a student of thermodynamics, but intuitively what you say this makes sense to me. These presentations are at this point are still in draft form, and the “Overview of the Networked Economy” in particular is short, so could be added to. The thermodynamics behind this change in wealth distribution would be an interesting addition. - Gail Tverberg
His wealth cannot be shared

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