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The Problem With Capitalism illustrated by Russian privatization

joG said:
You are right. "Earned" is an ambiguous term. like in the old commercial: "We make our money the old fashioned way. We earn it".

But to earn something is not meant that way in economics. There to earn simply means that somebody thinks that what you do is worth something and gives it to you in return.*) If you would like me to howl at the moon for ten minutes and pay me a Million Dollars to do so, I have earned it, because it was worth that much to you. Do we have a deal?

*) That BTW is how Ms Hilton got her's. She got born by her daddy and mom, thereby earning a pile.
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To be fair to Ms. Hilton, she has earned some of her own money. She has done TV shows and movies and she has earned some of her money, how much we do not know nor is it important.
 
Mason66 said:
Who is talking about Paris Hilton?

People don't just get money, they earn it in whatever way they do. It is not for you to say how somebody earns money is not the right way.
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Except that Paris Hilton didn't earn anything she just got it and I only brought her up to make the point.
 
blaxshep said:
This is 100% true, I am one of those people that put my time in to get an education so I can make good money from 9 to 5 and then have a life. I don't consider myself lazy and I wouldn't have it any other way. I have many friends that own their own business and I don't see them as having much of a life outside that, they work 12 hours a day and when they cut themselves a check it's not any more than mine. Owing a business is a gamble and it is hard work, in my opinion not worth it. Those that make it big, which is a very small percentage of them, deserve what they have earned.
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The difference being you have to ask permission to take a vacation whereas a business owner makes his own decisions.
 
blaxshep said:
Except that Paris Hilton didn't earn anything she just got it and I only brought her up to make the point.
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You are right, she spent her families money, but we were talking about businesses, I think.
 
Mason66 said:
To be fair to Ms. Hilton, she has earned some of her own money. She has done TV shows and movies and she has earned some of her money, how much we do not know nor is it important.
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This falls under the category of it takes money to earn money and that is the sole source of her money, had she been born the child of a poor family she would still have nothing today. No matter how you spin it inheritance of wealth in NOT earning wealth.
 
blaxshep said:
This falls under the category of it takes money to earn money and that is the sole source of her money, had she been born the child of a poor family she would still have nothing today. No matter how you spin it inheritance of wealth in NOT earning wealth.
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That is something we cannot know.
 
blaxshep said:
True, she could be a porn star :lamo
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We don't know if she actually had the fire in her belly to do what she wanted to do without her safety net.

Her Aunts did alright for themselves at very young ages. They did have the fire to act at very young ages, maybe she would have as well?
 
Mason66 said:
We don't know if she actually had the fire in her belly to do what she wanted to do without her safety net.

Her Aunts did alright for themselves at very young ages. They did have the fire to act at very young ages, maybe she would have as well?
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Why should she though? Is the point of life to work or to enjoy it? Capitalism works because humans generally want to enjoy life and strive to get ahead of material NEEDs so that they can get material WANTS.
 
jonny5 said:
Why should she though? Is the point of life to work or to enjoy it? Capitalism works because humans generally want to enjoy life and strive to get ahead of material NEEDs so that they can get material WANTS.
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The problems arise when individuals acquire such wealth and power that their WANTS become an Oligarchy.
 
blaxshep said:
The problems arise when individuals acquire such wealth and power that their WANTS become an Oligarchy.
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Which is why you have democracy. Oligarchies only happen in countries without it. Russia, for example.
 
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