Bill Gates - Economic moron
Posted by Robbie53024 10 years, 7 months ago to Economics
According to Gates, someone who spends money on goods/services, is not delivering as much value to society as one who is investing in their business. But if there wasn't consumption, then the investment in business would be wasted. Economic moron.
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I agree. All national borders should be immediately dissolved and all work should go to the lowest bidder.
Please explain to me how though we are to operate fairly when the only nation that has dissolved its border is Amerika
I wish folks would look at the full context of what is written.
A little Econ-101 teaches us that Investment is the driving force behind the multiplication of wealth. Also you are correct that investment into production without consumption of the product results in useless inventory, the consumer does in fact 'degrade' that which was produced, but they do create Demand.
The whole issue of Charity, as in the transfer of Wealth without expectation of Return, can at best be lateral, and at worst be destructive to GDP if the proceeds are spent poorly.
You can disagree with Gates on many issues, you can say he's wrong, foolish, brainwashed even, but he's no moron. ;^)
You keep trying to confuse the issue.
Bill Gates has become so out of touch he does not even remember how he became so wealthy
Another example of well-meaning programs, running amok, and now they generate too much tax revenue to kill. Flat rate, would be a lot better.
In 2009, property taxes were reported to be US $1.063 million on a total assessed value of US$147.5 million.
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