Comment on Modern Monetary Theory: Musk Edition
Blue_Morpho@lemmy.world 5 days agoI 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.
UnderpantsWeevil@lemmy.world 4 days ago
If someone buys a house for $500k it’s worth $500k. But it’s also a place to live, which makes it invaluable to a person without a home.
If the value declines to $400k then the net value is -$100k. But, again, the house has value as a place to live that humans need. Being underwater on your home isn’t the same as being homeless. And owning a million homes that lose value is very different than being broke.
Use value and exchange value are different things. And saying you have $8.4T on paper means something very different than saying you control properties, equities, and IP that other people need, but can’t have, because you’re hoping to flip it for a profit.