Comment on Modern Monetary Theory: Musk Edition
Blue_Morpho@lemmy.world 2 weeks agoThe productive capacity of the accumulated capital owned by US billionaires exceeds $31k/person/year.
If that was true then taking all their capital and distributing it would be more than $31k/person/year for each individual receiving their share of the 8.4 Trillion.
UnderpantsWeevil@lemmy.world 2 weeks ago
Yup.
Blue_Morpho@lemmy.world 2 weeks ago
So it doesn’t change anything. You get $30k and yes that $30k is worth more because it can generate maybe $3k in investment income for you a year. It’s still only $30k.
UnderpantsWeevil@lemmy.world 2 weeks ago
It does, in fact, change things
Blue_Morpho@lemmy.world 2 weeks ago
I honestly don’t know what you are arguing about. If someone has $100 it is technically worth more than $100. If they give you that $100 you now have that $100 which is also technically worth more than $100. It’s the same $100 + unspecified future value either way.
If you argue the $8.4 trillion in net worth of Billionaires is worth more than the $8.4 T, then if that $8.4 was taken from them it is also worth more.