The country with the wealthiest people in it are the best off. This may sound obvious to you, but what if I said that I meant a country with billionaires and trillionaires in it, and that because of people like this, the economy would be better off than if everyone was middle class? What if I told you that rich people are what grows an economy the fastest, and not the middle class? Would you be outraged?
Aside from the fact that you will not understand that the people who are the wealthiest in a free market, capitalist system have contributed the most to society because society did not give them the wealth for nothing, what if I told you that wealthier people are healthier for an economy than the working class? How is that so?
Envious people assume that the wealthy just sit on their money (they have the right to save), and they look at people with private jets and gold fountains and become outraged because they say that that money could have gone to the “needy.”
What they neglect to inform you of is that when that wealthy person consumes luxury items, he is creating luxury jobs. He is putting the people that created his golden fountain to work, as well as the ones that fly his private plane and the ones that built it. He is employing the maids and landscapers, employing the workers of fancy restaurants that he dines at, the tailors that make his fancy clothes. These are jobs that would not exist without his wealth. Because he has profited, this means that the actions that gave him profit are the actions that are the best for the economy because people would not pay him his profits if they did not believe the services and products that he gave them were less valuable than another product that they could have bought with that money. Because wealth is not acquired unless you offer something of value to the buyers that have decided to pay you, and because no one buys anything unless they believe that it will make them better off than they are now (i.e. “wealthier), then when one person becomes wealthy in a free market, capitalist system, everyone becomes wealthier. This is why, in a free-market, capitalist economy, no one benefits at the expense of someone else, despite the income disparities, because it is not a zero-sum game.
To put it in its most basic terms, if I am the CEO of McDonald’s, I am employing people who believe that McDonald’s is better than the alternative, I am providing sandwiches to the people that want them, and I am paying the people (therefore, “employing” them) that I buy things from. This is why economies work.
August 18, 2013.