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Lemmy might, MIGHT have a small bias towards the left (lemm.ee)

submitted 1 year ago by [email protected] to c/[email protected]

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[–] [email protected] 88 points 1 year ago (1 children)

Markets don't "create wealth". People's work creates wealth. Banks don't create wealth, they create debt and allow more money to go into circulation than actually exists.

Regulation isn't only desired, it's crucial for any market economy to work, lest they devolve into corrupt, abusive monopolies and oligopolies. Granted, bad regulation can be equally abusive and real cases are plentiful.

Just as important as regulation is taxing who has more money, because generating wealth won't automagically distribute it in any ideal manner. The worst problem nowadays is just how easy it is for rich assholes to legally evade taxes no matter which country they're from.

[–] [email protected] 4 points 1 year ago* (last edited 1 year ago)

Markets don’t “create wealth”. People’s work creates wealth. Banks don’t create wealth, they create debt and allow more money to go into circulation than actually exists.

I think the world would make a giant leap forward if we could all agree on this. Sad thing is that finance basically exist to muddy the waters of what value is. (EDITED, incorrect formating)