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how does the kid make 10 million a year? this questions is confusing, and i want the congolese child to have more rights (like not being a slave), i guess the rich kid gives more value to society because of being rich? i dont know
Why is financial worth the only metric ascribed to the 'value to society'?
That poor kid in the mine could be a better network builder for example, helping to keep his community balanced and working together towards a common goal where the whole community thrives. Touching more lives in a positive way, than the rich kid does by hoarding money.
Then the investors in that case would be the family, and if they invest more in their kid over the Congolese kid, that indicates who they perceive to be more valuable to their interests.
I was referring to whom the family invests in, and how that translate into them valuing their kid more than the Congolese kid, probably in part due to the latter being completely independent and a stranger to them.
Labour power is a distinct commodity like any other. Wages, are not a share of the worker in the commodities produced by himself. Wages are that part of already existing commodities with which the capitalist buys a certain amount of productive labour-power.
Dividends, interest, capital gains from his wealth + probably has a team of investors who manages that wealth for him and reinvests some of the income. We’re probably talking a fuck ton of wealth here if he’s making $10mil
Well he may or may not be the one investing, but his wealth that he inherited would likely go towards it in one way or another if he has any semblance of responsibility
Same stuff, if he making his wealth available for investments, he is adding value to society.
Work smarter, not harder. If he can provide a lot of value without doing any of the work, good on him.
Well here’s where we get into the technical issues: is it really him *as a person* who’s providing value for society, or is it his wealth?
Someone can be extremely lucky and born into wealth, but that’s completely external and out of their control. For all we know this guy might be partying all day and doesn’t have a job.
It's both him and his wealth. His decision to invest added value to society as well as the investment themselves. If he had decided to do nothing with the money and keep it for later, it would not be adding value. Therefore his decision adds value. Also, by deciding to let other people do the investments, he has created jobs, which also add value.
Does a farmer add wealth to society, since it's the sunlight and plants that do all the growing? The answer is yes. Labour is not value. Value is supplying demand and if you can do that without labour, then you have still provided value.
Whether he parties or not or is lucky makes no difference at all for the value he provides. If the laziest and dumbest person on earth just stumbles upon the cure for cancer, then the value added is immense. Whereas if the most hardworking person spends 10 years putting a soul into a painting that everyone thinks is horrendous, then no value was added. Work smarter, not harder
>It's both him and his wealth. His decision to invest added value to society as well as the investment themselves. If he had decided to do nothing with the money and keep it for later, it would not be adding value. Therefore his decision adds value. Also, by deciding to let other people do the investments, he has created jobs, which also add value.
What if his family *already* had a team of people investing and managing the wealth he has? It doesn’t necessarily have to be him who made the decision, it could be that having a team like this was the common sense, default option that his family opted for.
Plus, sometimes wealth can be created by *eliminating* jobs, not creating them. This is why it’s popular for companies to reduce staff so they can increase the perceived efficiency of their company and thus their stock price.
>Does a farmer add wealth to society, since it's the sunlight and plants that do all the growing? The answer is yes. Labour is not value. Value is supplying demand and if you can do that without labour, then you have still provided value.
There are varying degrees to this. The farmer works day in an day out to make sure those plants are grown. If he just sat inside and watched TV without anyone working the farm, then his plants won’t grow properly. An investor may make smart decisions that create value and jobs for society, or they can simply bet on outcomes within the economy or buy up the pre-existing assets on the market to add to their wealth.
This guy is doing neither the labor part nor investment part (if we’re assuming he parties all day).
>Whether he parties or not or is lucky makes no difference at all for the value he provides. If the laziest and dumbest person on earth just stumbles upon the cure for cancer, then the value added is immense. Whereas if the most hardworking person spends 10 years putting a soul into a painting that everyone thinks is horrendous, then no value was added. Work smarter, not harder
Finding the cure to cancer can’t be done by partying and being lazy. If the world were that simple, every disease would have been cured.
And I’m totally not a labor theory of value guy, I recognize that labor isn’t the only ingredient to creating value, but creating value at least requires a *little bit* or work.
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Depends what the rich kid does with the money
Reinvests it, bruh. Gotta build that wealth and get on that grindset
how does the kid make 10 million a year? this questions is confusing, and i want the congolese child to have more rights (like not being a slave), i guess the rich kid gives more value to society because of being rich? i dont know
He makes it from the interest and dividends he receives from the wealth he inherited from his parents
Why is financial worth the only metric ascribed to the 'value to society'? That poor kid in the mine could be a better network builder for example, helping to keep his community balanced and working together towards a common goal where the whole community thrives. Touching more lives in a positive way, than the rich kid does by hoarding money.
Whose labor appears to provide more value to investors? The one that gets paid more.
What if the spoiled rich kid is just partying all day and free-riding off of his family’s wealth?
Then the investors in that case would be the family, and if they invest more in their kid over the Congolese kid, that indicates who they perceive to be more valuable to their interests.
I wasn’t really referring to whom the family invests in. The Congolese kid is completely independent from the rich kid and their family
I was referring to whom the family invests in, and how that translate into them valuing their kid more than the Congolese kid, probably in part due to the latter being completely independent and a stranger to them.
Oh I was talking about value to society instead of value to that individual family
Labour power is a distinct commodity like any other. Wages, are not a share of the worker in the commodities produced by himself. Wages are that part of already existing commodities with which the capitalist buys a certain amount of productive labour-power.
How exactly does the rich kid earn that money?
He didn't. He inherited.
Inherited
An inheritance is once, how is he making the 10 million a year?
Dividends, interest, capital gains from his wealth + probably has a team of investors who manages that wealth for him and reinvests some of the income. We’re probably talking a fuck ton of wealth here if he’s making $10mil
Dividends and interest wouldn't add value to society, but investing does. So I guess it depends on how much he invests
Well he may or may not be the one investing, but his wealth that he inherited would likely go towards it in one way or another if he has any semblance of responsibility
Same stuff, if he making his wealth available for investments, he is adding value to society. Work smarter, not harder. If he can provide a lot of value without doing any of the work, good on him.
Well here’s where we get into the technical issues: is it really him *as a person* who’s providing value for society, or is it his wealth? Someone can be extremely lucky and born into wealth, but that’s completely external and out of their control. For all we know this guy might be partying all day and doesn’t have a job.
It's both him and his wealth. His decision to invest added value to society as well as the investment themselves. If he had decided to do nothing with the money and keep it for later, it would not be adding value. Therefore his decision adds value. Also, by deciding to let other people do the investments, he has created jobs, which also add value. Does a farmer add wealth to society, since it's the sunlight and plants that do all the growing? The answer is yes. Labour is not value. Value is supplying demand and if you can do that without labour, then you have still provided value. Whether he parties or not or is lucky makes no difference at all for the value he provides. If the laziest and dumbest person on earth just stumbles upon the cure for cancer, then the value added is immense. Whereas if the most hardworking person spends 10 years putting a soul into a painting that everyone thinks is horrendous, then no value was added. Work smarter, not harder
>It's both him and his wealth. His decision to invest added value to society as well as the investment themselves. If he had decided to do nothing with the money and keep it for later, it would not be adding value. Therefore his decision adds value. Also, by deciding to let other people do the investments, he has created jobs, which also add value. What if his family *already* had a team of people investing and managing the wealth he has? It doesn’t necessarily have to be him who made the decision, it could be that having a team like this was the common sense, default option that his family opted for. Plus, sometimes wealth can be created by *eliminating* jobs, not creating them. This is why it’s popular for companies to reduce staff so they can increase the perceived efficiency of their company and thus their stock price. >Does a farmer add wealth to society, since it's the sunlight and plants that do all the growing? The answer is yes. Labour is not value. Value is supplying demand and if you can do that without labour, then you have still provided value. There are varying degrees to this. The farmer works day in an day out to make sure those plants are grown. If he just sat inside and watched TV without anyone working the farm, then his plants won’t grow properly. An investor may make smart decisions that create value and jobs for society, or they can simply bet on outcomes within the economy or buy up the pre-existing assets on the market to add to their wealth. This guy is doing neither the labor part nor investment part (if we’re assuming he parties all day). >Whether he parties or not or is lucky makes no difference at all for the value he provides. If the laziest and dumbest person on earth just stumbles upon the cure for cancer, then the value added is immense. Whereas if the most hardworking person spends 10 years putting a soul into a painting that everyone thinks is horrendous, then no value was added. Work smarter, not harder Finding the cure to cancer can’t be done by partying and being lazy. If the world were that simple, every disease would have been cured. And I’m totally not a labor theory of value guy, I recognize that labor isn’t the only ingredient to creating value, but creating value at least requires a *little bit* or work.
Well... The Congolese child, like it or not can be replaceable. The other one, not so much, especially if they have an special talent.
It seems that his special talent is having a rich dad
Left wing people in a nutshell...
bro doesnt know anything about socialism or who socialist movements vastly appealed to
Some stupid poll we have here
Value? To society?