69 million page views

Wealth is Uncreated

Reader comment on item: Why I Am Not a Populist
in response to reader comment: The Rich Concentrate wealth, they don't "create" it

Submitted by Raul Marks (United States), Dec 14, 2019 at 03:24

Dr Pipes,

Wealth is similar to energy or matter in that it is uncreated. I would argue, It exists only in the imagination of people. As an example, take the stock market. Trillions of dollars worth of shares are traded on stock markets around the globe. Is that not a representation of wealth? Say a particular stock's value rises from $100 to $105 dollars in the course of a day. Where does that $5 dollars come from, and where does it go?

Bezos has indeed created efficiencies and services, and concentrated wealth in the process. Not created wealth. The wealth that was spread out amongst 100 retailers, is now concentrated in the hands of Bezos. This is not to argue the merits of Bezos' career, but rather the fact that he has concentrated wealth and not actually created it.

At the same time, many (if not most or all) of Bezos' innovations aren't even all that novel. For example Whole Foods had delivery service in Manhattan years before Amazon bought them. Bezos has simply expanded the service...he didn't invent it.

Dislike
Submitting....

Note: Opinions expressed in comments are those of the authors alone and not necessarily those of Daniel Pipes. Original writing only, please. Comments are screened and in some cases edited before posting. Reasoned disagreement is welcome but not comments that are scurrilous, off-topic, commercial, disparaging religions, or otherwise inappropriate. For complete regulations, see the "Guidelines for Reader Comments".

Submit a comment on this item

Reader comments (24) on this item

Title Commenter Date Thread
Bannonism in Context: Civilizationism [213 words]RobertNov 4, 2022 14:11288232
Ruth Vader. [37 words]AlbertE.Apr 12, 2020 22:30258555
1Crisis of representative democracy [194 words]
w/response from Daniel Pipes
BorisFeb 2, 2020 10:23257581
Strange list [107 words]Jon LangDec 27, 2019 14:02256898
1Legitimate reasons for the rise of populism [394 words]aidan maconachyDec 22, 2019 12:56256724
Populism and isolationism [146 words]IngmarJan 6, 2020 14:33256724
1British election - a harbinger of the future? [335 words]
w/response from Daniel Pipes
David W. LincolnDec 20, 2019 16:00256693
1Meditate on Islamic hypocrisy [222 words]PrashantDec 17, 2019 20:56256625
Conservative wins around the world and Islam [422 words]PrashantDec 14, 2019 11:49256526
Populist America does not rule the world - Neither Does Islam [316 words]M ToveyDec 19, 2019 17:07256526
The Rich Concentrate wealth, they don't "create" it [55 words]
w/response from Daniel Pipes
Raul MarksDec 9, 2019 17:41256433
Wealth is Uncreated [180 words]Raul MarksDec 14, 2019 03:24256433
1Real "uncreated" gems from our dear Raul! [135 words]dhimmi no moreFeb 22, 2020 12:58256433
Our dear Raul and the disasters about the Hadith of Muhammad with regard to الطاعون or the plague and the Coronavirus pandemic [279 words]dhimmi no moreFeb 23, 2020 11:42256433
Trump is more of a populist than Bannon. [51 words]
w/response from Daniel Pipes
BorisGDec 8, 2019 06:56256414
BorisG and Trump [150 words]dhimmi no moreFeb 23, 2020 15:34256414
2Calling out all the left is racist [133 words]David BenjaminNov 28, 2019 12:09256194
2You could never be a populist under any definition you are an elitist ... [29 words]The Dark LordNov 28, 2019 10:05256192
1Conservative negligence in key areas has helped the Left [333 words]DaveNov 27, 2019 11:18256166
Populism vs Popular Will [136 words]SteveNov 27, 2019 06:54256165
administrative state or deep state/ [66 words]
w/response from Daniel Pipes
Cycle CyrilNov 27, 2019 05:08256162
beautifully expressed summary of political issues [44 words]Timothy HadleyNov 26, 2019 22:50256155
I am not a populist but... [43 words]BernardNov 26, 2019 22:39256153
Populism Does not Work in a Republic [284 words]M ToveyDec 11, 2019 13:53256153

Follow Daniel Pipes

Facebook   Twitter   RSS   Join Mailing List

All materials by Daniel Pipes on this site: © 1968-2024 Daniel Pipes. daniel.pipes@gmail.com and @DanielPipes

Support Daniel Pipes' work with a tax-deductible donation to the Middle East Forum.Daniel J. Pipes

(The MEF is a publicly supported, nonprofit organization under section 501(c)3 of the Internal Revenue Code.

Contributions are tax deductible to the full extent allowed by law. Tax-ID 23-774-9796, approved Apr. 27, 1998.

For more information, view our IRS letter of determination.)