Greg G. wrote:

Doug Miller said:

In article ,
wrote:

Hmm... Create wealth. I don't believe you can "create" such a thing,
but you can certainly move the existing wealth around until you have
accumulated much of it.

Hmmm... to be logically consistent, then, you must believe that the sum of
wealth in the world is constant: that there is exactly as much wealth in
the world now as there was, say, three thousand years ago.

It's all relative. "Creating" wealth is called counterfeiting. ;-)
Otherwise it's just the changing fortunes of time. Currency (and it's
paperwork equivalents) have no intrinsic value anyhow. It only
represents current perceived wealth. We have nothing of lasting value
to back the money supply in circulation. The (private) Federal Reserve
Banks and markets excel at smoke and mirrors. For instance, should the
system collapse, food, water, and ammunition will be worth far more
that valueless, baseless paper money.


Economics isn't your strong suit, is it?

Of course businesses that produce things produce wealth (and that doesn't
mean printing money). In the case of the lowest tier of production, they
take raw material and grow food or produce oil, minerals, or other
material. Now, they do exchange that for money, but the money at that
point is a medium of exchange -- they have something that has been produced
that is of value and that did not previously exist. Those goods can be
exchanged for currency or for other goods. The bottom line is that what
was produced has more value than the sum of the inputs (if not, the
business will go out of business). Whether the money supply remains
constant or is allowed to grow is an economic policy issue, but the money
is only a medium of exchange. Real wealth is in the produce and output of a
company. That grows as production and output grow.

I'm sorta pulling your leg, but the point was that a business can only
take money from others to "grow" wealth, it cannot create or devalue
money - that's what the Feds do - well, them and various disasters.


Greg G.

--
If you're going to be dumb, you better be tough