Message from @Ozymandias

Discord ID: 761243716810702899


2020-10-01 15:06:26 UTC  

“Assets” won’t work because there’s a lot of wealth in processes too

2020-10-01 15:06:32 UTC  

I think your two-fold definition is really a mix of wealth and wealth management

2020-10-01 15:06:40 UTC  

they are essentially two different things

2020-10-01 15:06:49 UTC  

What's wrong with dictionary definitions here?

2020-10-01 15:06:55 UTC  

Wealth management is also wealth

2020-10-01 15:07:06 UTC  

I think it’s recursive, which is why we can generate wealth

2020-10-01 15:07:21 UTC  

Wealth isn’t a zero sum game. It is at any one moment in time, but across time, we generate more

2020-10-01 15:07:30 UTC  

can you generate wealth without wealth?

2020-10-01 15:07:46 UTC  

Can you have negative money or negative wealth?

2020-10-01 15:07:53 UTC  

wealth management is not wealth

2020-10-01 15:07:57 UTC  

it’s a skill

2020-10-01 15:08:04 UTC  

wealth is a state of mind

2020-10-01 15:08:25 UTC  

Wealth is not a state of mind 😄

2020-10-01 15:08:35 UTC  

it’s a state of being able to appreciate your position in life

2020-10-01 15:09:26 UTC  

I agree with Malachi. (Quick someone save this message)

2020-10-01 15:09:38 UTC  

“Negative wealth” would imply debt

2020-10-01 15:09:42 UTC  

But that’s about it

2020-10-01 15:09:52 UTC  

You can have less wealth than before though.

2020-10-01 15:10:06 UTC  

address my definition

2020-10-01 15:10:37 UTC  

Wealth management is wealth. It’s wealth in the same way that putting rocks together to make a tool is wealth

2020-10-01 15:10:45 UTC  

> Wealth is not a state of mind 😄
@Malachi before I ask for your definition, why doesn’t mine work?

2020-10-01 15:10:55 UTC  

A stick a rock and a string is worth less than a hammer made out of a stick a rock and a string

2020-10-01 15:11:34 UTC  

“Worth” may be a good word here. Good wealth management IS worth something. It’s worth a lot actually

2020-10-01 15:11:43 UTC  

The state of mind part was my only sticking point.

2020-10-01 15:13:00 UTC  

What word would mean: “that which is worth something”

2020-10-01 15:13:07 UTC  

“That which has worth”

2020-10-01 15:13:20 UTC  

Value

2020-10-01 15:13:41 UTC  

Hmm that term has similar issues in that it is also a unit

2020-10-01 15:13:49 UTC  

Like, “has value” vs “to value”

2020-10-01 15:13:58 UTC  

But I like it. Brainstorming here

2020-10-01 15:14:13 UTC  

Value also sounds subjective, where the thing we’re discussing is more relative than subjective

2020-10-01 15:15:00 UTC  

Automating dispatching (as Uber did) generated a ton of wealth, as it freed up time for us to do other things, and it made it very easy to summon a cab.

2020-10-01 15:15:14 UTC  

The old way was wasteful. It’s not just “value”

2020-10-01 15:15:26 UTC  

Time IS a resource

2020-10-01 15:16:16 UTC  

Saving time + generating goods ... these are both ways to generate what I’m calling “wealth”

Also! Limiting waste. Mexicans make nachos out of what’s left behind by their tacos. It’s a great example of not wasting anything

2020-10-01 15:16:17 UTC  

Value sounds personally subjective yeah. But all wealth is subjective. Except the wealth in heaven I accrue with my God.

2020-10-01 15:17:07 UTC  

I think there’s a subjective aspect to wealth, but also a real (if relative) aspect. Otherwise we couldn’t have a system that measures it

2020-10-01 15:17:46 UTC  

The value of something is juxtaposed to it's scarcity.

2020-10-01 15:18:01 UTC  

Scarcity is one variable yes

2020-10-01 15:18:27 UTC  

According to Marx, the main variable

2020-10-01 15:18:38 UTC  

But there are rare things nobody wants or needs, and there are unrare things that everybody wants or needs.

Thankfully water and air arent scarce!