[FRIAM] What is Wealth for?

[Marcus Daniels]

I don’t find the cost of living argument so convincing.   If one can accumulate wealth and retire or work remotely, it is possible to get the benefits of a low cost of living while still having a high income.   However, what’s unsaid, is that people do value other things, like being in the vicinity of their friends and family.    Also in the U.S., especially, what we value is a political football.   If half a million people die of COVID-19, that can be defined away in the name of jobs.   Or the economy can be equated with the markets, etc.   How much terror and suffering is enough to make one doubt ones definition of wealth?

From: Friam <friam-bounces at redfish.com> On Behalf Of Robert J. Cordingley
Sent: Saturday, March 13, 2021 6:44 PM
To: The Friday Morning Applied Complexity Coffee Group <friam at redfish.com>; Merle Lefkoff <merlelefkoff at gmail.com>
Subject: Re: [FRIAM] What is Wealth for?


Steve

If you are taking a poll...

For starters on what wealth might mean economically, it might be useful to understand the cost of living and purchasing power by country<https://www.worlddata.info/cost-of-living.php>.  Is 'wealthy' some factor based on a ratio of income over cost of living?

I don't know how you would measure cultural wealth and how colonialism played a part in its accumulation via subjugation. There must be other categories of wealth; spiritual wealth, artistic wealth, land ownership, public wealth, private wealth, etc.. How would native Americans and other indigenous population discuss the concept?

At the excessive levels of the ultra-rich (Besos and co), wealth is for giving away for perhaps some altruistic purpose. Cynically, some might see this as a way for making amends for all the transgressions committed on the way?

More commonly wealth is accumulated to help the next generation in one's family regardless of culture and purchasing power?

Robert C.
On 3/12/21 7:24 PM, Merle Lefkoff wrote:
Can we please start with how we define "wealth."  Please.

On Fri, Mar 12, 2021 at 12:31 PM Steve Smith <sasmyth at swcp.com<mailto:sasmyth at swcp.com>> wrote:
Tangenting off of the Great Man discussion, I would like to solicit a
discussion on  "What is Wealth for".  I believe we have attended to this
on the side many times (I remember a vFriam where it was declared that
"Billionaires are Assholes, but Millionaires aren't (necessarily)"?

Each of our Great (Wo)Men on the snark/not-snark list share one thing in
common, Wealth.   I'd be interested to hear others riff a little more on
their taxonomies of "what is Wealth for?"

- Steve


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