A Better Path To Wealth Distribution
Daniel Leininger @ Flickr
There doesn’t even appear to be a debate.
If one group of people–somehow–attains a certain amount of wealth and another group appears cut out, you just take a chunk of wealth from the first group and pass it onto the latter. Voila. Everyone is equal again.
Except, that history proves that wealth distribution doesn’t survive its initial pay checks and can actually make things worse. In the early days of the 20th century, Russia tried to redistribute wealth. The Czars became premiers. The boyars became commissars. But the poor people remained poor. Maybe poorer.
Still, wealth and power remained in the hands of a few.
In the Western world, trillions upon trillions of dollars, Euros, yens, pounds, francs, and Deutsche marks, have been redistributed. Somehow, that money continues to find its way back to the same groups.
Wealth distribution will not work, but there is something that will be far more effective.
Redistributing wealth-building technology and wealth-building attitudes can do what redistribution has failed to do.
As technology expands, it becomes cheaper. What is now being used to manage the accounts of wealthy people will soon be used by self-directed investors. At least the smart ones. Automated Trading and algorithmic trading are frequently used to manage hedge funds and the accounts of wealthy families. Other investment technologies are quickly adopted by the more risk tolerant wealthy clients. But eventually those technologies will be democratized.
Wealth-building technology pales in comparison to the ultimate technology: the mind. Even without technology, when money is redistributed, it ends up in the purses and wallets of the same people. That’s because truly wealthy people develop truly wealthy attitudes.
Read books like the 4-Hour Work Week, Rich Dad/Poor Dad, and the Millionaire Next Door and you’ll uncover some core beliefs of the wealthy, like:
- They look at the value of ideas, not time.
- They value financial intelligence
- They understand that being wealthy and showing wealth are different things.
- The truly wealthy know that fear and greed cause poverty.
Our country seems to be stuck on an amusement park ride. Our debates are circular. We go round and round and come back to the same point.
We can continue to redistribute wealth and we’ll continue to have the same bad results. (The definition of insanity.) Or we can begin the process of distributing wealth technology and wealthy attitudes to create real prosperity and true freedom for the people who choose to use them.
Related posts:
- Is Wealth Contagious?
- The Secret Of The Wealth Singularity
- Exponential Wealth: The More And More Law
- 6 Ways to Become a Wealth Creator
- The Four Secrets To Unconventional Wealth
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is one of my favorite financial books of all time. It's an allegory about a guy who has a terrible job, and how he overcomes challenges to achieve his dreams.
