Egalite Sunday Times Rich list.

EKIMIKE

Rick Chasey wrote:

johnfinch wrote:

Now, I'm not an economist, so if somebody with a bit more knowledge could please explain to me...

If inequality is growing on a worldwide scale, as the trend does seem to suggest, and the % of the world's wealth concentrated in the hands of the capitalists gets ever higher, then how long can this go on? Surely there will come a point at which the rest of us have so little wealth compared to them that it is no longer worth their while to invest in production.

You marxist you.

Karl Marx said something to the effect of 'Capitalism cannot abide a limit'.

No idea what the specific context was but it seems to be an appropriate observation in many ways, whether you're anti or pro capitalism.

Speaking more generally, the rich list is just another trivial matter with regards to economics. As are profit figures, growth figures and mathematical forecasts. There is a social and psychological element to economics that has been neglected widely by academia and professional economists. They are obsessed with maths and statistics. Is it any wonder that when we hear things 'to do with economics' so many people feel it is out of touch with reality?

Again, there's nothing wrong with churning a profit but it's not the be all and end all of 'functionable' capitalism and economics. Profit makers have to 'pay' their dues to the society that enables their profits. Tax is only the beginning...

MattC59

Frank the tank wrote:

MattC59 wrote:

tim wand wrote:

I d just settle for being rich enough to have a Colnago C59.

Me too !!
(I've noticed a few people have assumed I have a C59, it's actually the initial of my surname and the number of the first house I owned, a coincidence I only noticed today )

In some ways you've hit the nail on the head chaps.

I would guess most people don't want such an obscene amount of wealth just a decent standard of living. Yes I understand more wants more and that we all live up to our incomes, but I still maintain most don't want such wealth.

Nope, I want an obscene amount of wealth

Frank the tank

MattC59 wrote:

Frank the tank wrote:

MattC59 wrote:

tim wand wrote:

I d just settle for being rich enough to have a Colnago C59.

Me too !!
(I've noticed a few people have assumed I have a C59, it's actually the initial of my surname and the number of the first house I owned, a coincidence I only noticed today )

In some ways you've hit the nail on the head chaps.

I would guess most people don't want such an obscene amount of wealth just a decent standard of living. Yes I understand more wants more and that we all live up to our incomes, but I still maintain most don't want such wealth.

Nope, I want an obscene amount of wealth

Well, you're just a greedy b@st@rd then.

Gazzaputt

Communism is the way forward.