Official Lolbertarian thread. Discuss the benefits of No goverment

[abandonconflict]

On the flip side, if the market were to crash, labor would significantly decrease.

This does not demonstrate wealth creation by the stock market in the absence of labor.

 

[The_Herban_Legend]

You didn't answer this when I asked before, maybe you just missed it so I'll ask again.

Do you consider QE by the FED to be labor? Because over a trillion in "wealth" was created out of thin air, imagine that.

Great point!

 

[abandonconflict]

So when we talk about the wealth disparity in this country what we really mean is the currency disparity and it's totally different?

ftr, i really do believe there is a difference between wealth and currency, but not in the way we are talking about itt.

This does not demonstrate wealth creation in the absence of labor.

Labor creates all wealth.

 

[The_Herban_Legend]

This does not demonstrate wealth creation by the stock market in the absence of labor.

I gave you one, of millions of examples via Mark Zuckerberg.

 

[abandonconflict]

I gave you one of millions of examples via Mark Zuckerberg.

No, you didn't. Facebook is a massive digital infrastructure and enterprise supported by thousands of toiling coders and programmers. In short, labor created that.

 

[The_Herban_Legend]

This does not demonstrate wealth creation in the absence of labor.

Labor creates all wealth.

We agree on most issues but I stand my ground on this one. Labor is only one of many resources needed to create wealth from innovation.

 

[The_Herban_Legend]

No, you didn't. Facebook is a massive digital infrastructure and enterprise supported by thousands of toiling coders and programmers. In short, labor created that.

Wrong! When Facebook went public, how much wealth do you think was created? Have a read if you don't want to take my word.
http://www.dailymail.co.uk/news/article-2072204/Facebook-IPO-create-1-000-millionaires-companys-rank-file.html

 

[abandonconflict]

We agree on most issues but I stand my ground on this one. Labor is only one of many resources needed to create wealth from innovation.

It is by far the most important, because wealth can not be crated in the absence of labor.

In short, labor creates all wealth.

 

[abandonconflict]

Wrong! When Facebook went public, how much wealth do you think was created? Have a read if you don't want to take my word.
http://www.dailymail.co.uk/news/article-2072204/Facebook-IPO-create-1-000-millionaires-companys-rank-file.html

I keep seeing mention of employees. I wonder what those employees do, I wonder what wealth would be created if there were no employees...

 

[The_Herban_Legend]

I keep seeing mention of employees. I wonder what those employees do, I wonder what wealth would be created if there were no employees...

Did you note the mention of investors (labor free by the way)?

 

[abandonconflict]

Did you note the mention of investors (labor free by the way)?

Not labor free. What do investors invest? They invest wealth. Where did they get it? What happens after they invest it? Yet more labor.

 

[ginwilly]

This does not demonstrate wealth creation in the absence of labor.

Labor creates all wealth.

How does it not? Over trillion was created without labor. If you are talking about wealth being monetary then I don't get how you can ignore this.

I can dig a hole in my yard and create nothing but a hole. If the local bank dumped all of their quarters in my hole, then I have wealth that I didn't create. Sure, somebody's labor made those quarters or mined the minerals, is that what you mean? If it is, then I go back to the FED digitizing currency again.

I'm not a fan of our monetary system but it's what we all live by. To say a Trillion dollars is not real wealth under our current system is false.

 

[The_Herban_Legend]

Not labor free. What do investors invest? They invest wealth. Where did they get it? What happens after they invest it? Yet more labor.

Stock Market?

 

[abandonconflict]

How does it not? Over trillion was created without labor. If you are talking about wealth being monetary then I don't get how you can ignore this.

I can dig a hole in my yard and create nothing but a hole. If the local bank dumped all of their quarters in my hole, then I have wealth that I didn't create. Sure, somebody's labor made those quarters or mined the minerals, is that what you mean? If it is, then I go back to the FED digitizing currency again.

I'm not a fan of our monetary system but it's what we all live by. To say a Trillion dollars is not real wealth under our current system is false.

Wealth is not created simply because currency is printed. This is why printing money with out the creation of wealth in the economy simply devalues said currency proportionately to what was printed minus how much wealth was created.

 

[abandonconflict]

Stock Market?

As has been established, the stock market creates zero new wealth, it simply trades existing wealth and squeezes value from fluctuating scarcity (supply and demand).

 

[ginwilly]

Not labor free. What do investors invest? They invest wealth. Where did they get it? What happens after they invest it? Yet more labor.

Interest income
Lottery
dividends
Fed's magic money maker

If a bank offers 4% interest, am I paid in labor? How are they able to offer me this? It's because they charge double that to borrow. So If I charge you 20% interest on you loan, I've gained 20% in wealth without any labor.

 

[The_Herban_Legend]

How does it not? Over trillion was created without labor. If you are talking about wealth being monetary then I don't get how you can ignore this.

I can dig a hole in my yard and create nothing but a hole. If the local bank dumped all of their quarters in my hole, then I have wealth that I didn't create. Sure, somebody's labor made those quarters or mined the minerals, is that what you mean? If it is, then I go back to the FED digitizing currency again.

I'm not a fan of our monetary system but it's what we all live by. To say a Trillion dollars is not real wealth under our current system is false.

AC probably won't come to terms on this issue because it may not fall inline with his political ideology, but labor is only a resource which can be significantly reduced through automation.Wealth is created by innovation and requires resources, like labor.

 

[ginwilly]

Wealth is not created simply because currency is printed. This is why printing money with out the creation of wealth in the economy simply devalues said currency proportionately to what was printed minus how much wealth was created.

We agree that it devalues the money, which also devalues labor. It doesn't change that wealth was created without labor.

 

[abandonconflict]

AC probably won't come to terms on this issue because it may not fall inline with his political ideology, but labor is only a resource which can be significantly reduced through automation.Wealth is created by innovation and requires resources, like labor.

Deciphering...

"I lost this debate and admit that labor creates all wealth."

 

[abandonconflict]

We agree that it devalues the money, which also devalues labor. It doesn't change that wealth was created without labor.

Wealth was not created with out labor, since wealth is not created by the printing of currency.