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Imperial Forum → Politics → Why are rich people rich AND why are poor people poor?
Maybe this is the right question to ask:
Rich people tend to think it is because of their ability that the rich are rich. Poor people tend to think it is because of a lack of opportunity that the poor are poor.
Who's right?
One reason is the rich keep getting richer via Assets, while the poor are getting poorer through inflation, etc...
The rich would say that the poor get poorer because they remain ignorant of inflation and don't bother to keep assets whose value increases with inflation, like wine, for instance: the rich would keep a 10 dollar bottle of wine for 20 years and then sell it for 500 dollars, while the poor wouldn't keep it. They'd drink it they day they bought it.
The poor would say they'd drink a 10 dollar bottle of wine the day they bought it because they don't have the space to store it for twenty years.
Yep. One thing that is significant are the differences in spending habits. The rich pay themselves first, and invest into assests, while the poor pay others first, and spend the rest on expenses and liabilities. There is a great book called "Rich Dad, Poor Dad" that goes into detail. It's a good read!
Poor people are poor, because they have way to much damn time on their hands.
Rich people are rich, because they either got their hands dirty, or they fooled someone else into getting their hands dirty for them.
And this is the third thread about poor&rich. I don't think we need another thread to answer the question, when why are the poor are poor thread pretty much would have answered everything.
I think it is different, and this third thread is necessary because the others are looking at either rich or poor, not both together...
Mason,
Rich Dad/Poor Dad is misguided and incorrectly uses economic language. Goods you consume are also assets, it's just that most do not appreciate in value. Rather, they depreciate in value. However, the main premise of the book, that the rich invest their money in to assets that appreciate in value, and the poor either do not or do it irrationally, is true. If you want to be rich, you have to be rational, educated, experienced, and invest in assets that appreciate in value yourself.
The question is, though, Justinian, WHY the poor do not do it. The rich would say it is because the poor don't know how to invest or wouldn't be bothered to learn how to invest and actually invest, and the poor would say it is because they don't have the opportunity to either learn how to invest nor the opportunity to actually invest even when they do somehow acquire enough knowledge to do so.
A quick comment.
If the rich all used appreciating value goods then who buys them?
Camping on appreciating goods alone produces no true profit.
Instead profit is made via a variety of means and lost via variety of causes.
simplistic modeling is why the USSR had no true international trade.
"simplistic modeling is why the USSR had no true international trade."
Alright. Let's take the USSR as an example of an economy in which poor people generally thought they were poor because of no opportunity to become rich. One's lot in life was assigned to them and there was virtually no opportunity to better their lot in life.
In the US, there is apparently more opportunity to better one's apparent lot in life, although there are some controls over one's economic opportunity.
We can see that one reason the rich are rich and the poor are poor is because of governmental controls on individuals' pursuit economic opportunity.
what makes someone poor and what makes someone rich.... is a better question...
if a person's life is enviable, he is rich. if a person's life is to be avoided, is he not poor? there can be rich bankrupt people and poor millionaires.
Is it just me or did Undeath close the wrong thread?
> avogadro wrote:
> what makes someone poor and what makes someone rich.... is a better question...
if a person's life is enviable, he is rich. if a person's life is to be avoided, is he not poor? there can be rich bankrupt people and poor millionaires. <
So "Katie Price" is poor, unless you are girl of 14 in which case she is the richest, most popularest woman on earth.
[Closed]
..based on Zarf's request.
Please see:
http://www.imperialconflict.com/forum/viewtopic.php?id=103104
and
http://www.imperialconflict.com/forum/viewtopic.php?id=104040
Imperial Forum → Politics → Why are rich people rich AND why are poor people poor?
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