Where do wealth/growth actually come from?

With skills I guess I agree, it is the actual performance that is paid for. As a former high school farm boy, I find it it is hard to call singing a song or playing a baseball game 'labor'.

Acquisition of knowledge and knowledge itself can be wealth. People will pay for a trading idea, a chemical formula, know-how, or will pay for research to be done. People purchase ideas all the time.

 

I don't think knowledge or skills are properly called wealth. They are skills that can be exchanged for money, which is itself a claim on wealth and not wealth itself.

 

I agree.

People don't do much of anything functional except eat, so all the advertising industry is selling is bs goods to satisfy emotional needs. Beanie babies, knick knacks, designer pocket books, (and currently "silly bands") etc.

I used to be a buyer and the crap that ends up in the store should never be there but what can you do, people buy the stuff.

 

I think he has forgotten to tell that one American has a bigger stick than all five Asian combined.

 

http://www.youtube.com/watch?v=bFoWCbQjwXw

<object style="height: 344px; width: 425px"><param name="movie" value="http://www.youtube.com/v/bFoWCbQjwXw"><param name="allowFullScreen" value="true"><param name="allowScriptAccess" value="always"><embed src="http://www.youtube.com/v/bFoWCbQjwXw" type="application/x-shockwave-flash" allowfullscreen="true" allowScriptAccess="always" width="425" height="344"></object>

 

It's a good read.

This thread has been an "interesting" read too.

 

Services are exchanged for money, skills cannot be exchanged. Skills are acquired by personal effort. Skilled services can command very high prices.

Knowledge however can definitely be wealth, I disagree. If I invent and posses a chemical formula that cures heart disease, other people will value that knowledge and pay me for it.

I don't see how you can have that opinion in an economy that is 80% services and information.

 

Health is the greatest wealth.



Wealth is in an envious person's imaginary perception.

 

Growing wealth comes from the progressive control and manipulation of the physical world to suit humankind`s perceived wants and needs.

 

Comes from working hard. Those who won't work hard to get what they want will never achieve anything. Whatever effort and work ethics we put out into the world always comes back at us with mathematical precision.