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1. LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1)'s status on Thursday, 07-May-2020 18:52:02 EDT LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}

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   https://qoto.org/@freemo/104129595828114045
   
   Sometimes, I'm surprised that most people (in the Fediverse, at least, I don't talk to many people outside of it) do not seem to understand this level of basic economics. Really glad to see @freemo@qoto.org explaining it, because he did a great job of exposing something that seems obvious, but people are missing.
   • LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1)'s status on Thursday, 07-May-2020 19:01:32 EDT LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}

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     This is the part I'm talking about: "Wealth can and is generated, but it isnt generated out of thin air. We arent talking about just printing up some money and wham you have more wealth. This is economics 101 so not only is it not absurd it is the accepted reality from anyone who has every studied wealth to any degree. I will explain it with an oversimplified example so you can…
   • Douglas A. Whitfield (musicman)'s status on Friday, 08-May-2020 16:39:23 EDT Douglas A. Whitfield

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     • LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}
     I don't spend a lot of time reading economics threads here, but my suspicion is people actually get this, but what the media talks about with wealth creation is all stock prices. Trading pieces of paper (or electrons) is not the same thing.
   • LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1)'s status on Friday, 08-May-2020 18:31:01 EDT LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}

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     • Douglas A. Whitfield
     @musicman Sadly, most people that post in the Fediverse seem to think economics is a zero-sum game, when Freemo's example shows that is clearly not true.
   • Siedge (siedge)'s status on Saturday, 09-May-2020 10:12:48 EDT Siedge

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     • LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}

     @lnxw48a1
     Or in an alternate situation, all your cows died of disease that year. Now the world only have $200 in wealth total

     LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} repeated this.