> The purpose of wealth is freedom; it’s nothing more than that. It’s not to buy fur coats, or to drive Ferraris, or to sail yachts, or to jet around the world in a Gulf Stream. That stuff gets really boring and stupid, really fast. It’s about being your own sovereign individual.
This makes sense.
> Today, I would rather be a poor person in a First World country, than be a rich person in Louis the XIV’s France. I’d rather be a poor person today than aristocrat back then. That’s because of wealth creation.
I'm not sure we can have it both ways.
If the purpose of wealth is to be sovereign and have the freedom and time to pursue my own interests, whatever they are, then it's better to be a wealthy person at any time in history than to be a poor person at any other time in history.
A poor person today is going to spend 8-12 hours per day, 5-7 days per week, working and commuting, depending on how many jobs they have, just to pay for necessities. An aristocrat in any time period is going to have far more time to do any of the things that fulfill him. Air conditioning, health care, and Netflix don't make up the difference.
This makes sense.
> Today, I would rather be a poor person in a First World country, than be a rich person in Louis the XIV’s France. I’d rather be a poor person today than aristocrat back then. That’s because of wealth creation.
I'm not sure we can have it both ways.
If the purpose of wealth is to be sovereign and have the freedom and time to pursue my own interests, whatever they are, then it's better to be a wealthy person at any time in history than to be a poor person at any other time in history.
A poor person today is going to spend 8-12 hours per day, 5-7 days per week, working and commuting, depending on how many jobs they have, just to pay for necessities. An aristocrat in any time period is going to have far more time to do any of the things that fulfill him. Air conditioning, health care, and Netflix don't make up the difference.