How is wealth created? Saving and investing is the key to personal wealth as well as the economic growth.
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Econ Clips is an economic blog. Our objetive is teaching economics through easy to watch animated films. We talk about variety of subjects such as economy, finance, money, investing, monetary systems, financial markets, financial institutions, cental banks and so on. With us You can learn how to acquire wealth and make good financial decisions. How to be better at managing your personal finance. How to avoid a Ponzi Scheme and other financial frauds or fall into a credit trap. If You want to know how the economy really works, how to understand and protect yourself from inflation or economic collapse - join us on econclips.com. Learn Austrian Economics in a fun way!
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GOD DID NOT INVENT ECONOMY. SATAN DID. All of those tools are made from things that God gave to us for nothing. Satan says pay a price. God says: Ask and receive. God's mind needs to be in our mind. We are alrady rich in what God made. Money is destroying it.
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How is wealth created? By and large, slavery, following the enclosure of the commons. Land and labor are sacred, yet capitalism has transformed them into instruments for extraction, i.e. "wealth creation". This video erases everything people need to know about wealth, its history, and what today we must do to return the means of production to those who labor in the real goods and services of our world, not the derivatives and other financial instruments. We are at record wealth disparities today, and the tools we have, grassroots organizing, must again stand up to demand redress of our collective grievances of the 99%. Or, just watch this video. Thanks for reading!
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I watch this video a few times each month.Even though the way to wealth isnt as straight forward as alluded,The principles are very sound and true...”Wealth is created through self sacrifice and taking risks”...
Very good video. One note...
The first spear has a massive value because of the risk to the maker. Once he has made the first spear and built up a bit of stock of food the spear could be replaced with much less risk so it's value is vastly reduced. This is the first stage of 'commoditisation' of spears. Also after making the first spear producing more spears will be easier and faster because the maker has experience of spear making. This is the second stage of 'commoditisation'. A video on how things go from new invention to commodity status would be really interesting.
you have to sacrifice so much to save money when you are already earning very little, your wife, kids everyone will think you are a looser, but in end of day you make all payments for all the things and run the family in the right way.
It is quite difficult to start any business these days, but some businesses give money for little effort. Always keep your eyes open and always explore.
If my salary was a 10 000 $ one .... I would be making videos on Youtube telling people how to fish .... just like all the videos I watched .... invest your money .... I will invest my 5 dollars ... Please stop depressing us !
anyone can imagine if the fisherman was married? the wife was just constantly nagging him... stop to waste your time with that stick.... go to get a job I need more shoes, clothes, crab meat and weekend to miami...
The thing is that this assuming that wealth only comes in the form of possessions and money generating assests. Yeah, Pete seems wasteful, but he is gaining a wealth of experiences. If there is a war and both of them die in an invasion, then all the saving Tom did, what did it get him? Pete got a wealth of experience. You gain wealth by spending on your experience too. If your saving is limiting your experience it is worthless because you age and your ability to enjoy your experience can decline with age. I saved in my mid to late 20s, to be able to buy a home at 30, and I am not always sure that I made the best decision because I think about the fact that I lived at home with my parents in my 20s to accomplish this goal and it severly limited my dating experience in my 20s. It is cool to have a home now, but the amount of work that it took to furnish the home and fix it up, it has caused me to have debt that I wouldn't have had if I would have moved out and got my own rental apartment in my 20s. It would have cost me $500 extra, which I could have afforded per month, but my experience of my late 20s would have been better and I probably could have found a wife and we spend our savings to buy a home togther, which would have left me with more money at the end of the day to invest in business, etc. If I would have spent a little bit more to have a wealth of experience rather than trying to take a conservative and safe approach, I think I would have had more cumulative happiness than I have now. I don't think I made a bad decision and I am not unhappy by any means, I just realized that the true wealth you have in life is in what you are able to experience at the most reasonable cost to you, not how much you can accumulate. More accumulation does not equal better experience. You are truly wealthy when the price you have to pay for a high quality experience is at the most minimal cost to you possible in terms of time, energy and resources.
There is a huge piece missing from the parable. Land and rent. The story presupposes that there was an island available, with fish in the sea. If the island was already owned by someone, the castaway would have no option but to pay rent to the owner, or work for whatever wage the owner would offer.
Great job. But you should have emphasised the underlying reason that the fishermen was able to succeed.
He was very intelligent.
He was probable in the upper 1% of intelligence of the people on the island.
Certainly an informative explanation to me. What I missed in this story was the possible lower or even total loss of profits of Tom's investments in his shop, restaurant and real estate because of the recession.
And cleaning lady? Could be a cleaning man as well.
A made up fantasy that has no basis in reality. It tries to make the owner of capital look like a self sacrificing risk taker when in reality it's simply very easy for someone with money to make more money. The rich are usually rich because they were born rich. Yes there are some exceptions but if you look at statistics upward mobility is very low. So not "self sacrifice and risk taking" it's more about how rich your parents were.
Wealth is created by families, no families, no wealth. Children are the wealth. A man is wealthy if he can sleep when tired and eat when hungry. All a human being needs is water, food, sleep, friends, and mind control. Those without mind control suffer. Wealth is not measured in dollars, legally counterfeited debt notes. Wealth is measured in hours. Buddhist monks are happy with nothing. Many millionaires commit suicide but not too many. Most rich people buy happiness or get peace from lots of security. Still, balance the lust for money, which is now legally counterfeited currency, with mind control. Live frugally and happily if rich or poor. It's just common sense. PS, I am a millionaire and a cancer survivor.
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