do billionaires really MAKE money? do they make the pie of wealth bigger?

Question

[eg] bill gates [bg] does what everyone does: decides to do smthg & does it - some decide to build hotrods, climb mountains, breed horses, become a secretary, invent, study - bg spends no more hrs working than billions of others - he uses his natural gifts - like everyone - he works no harder/hr than billions - he does what everyone does: work using whatever nature's gifts they have - true?
besides, we KNOW that the spectacular profits are due to difference between costs & prices - we know that costs include all pay for all work, including bg's work [incl his study] - therefore we know that profits have nothing to do anyone's input - the profits are caused by scarcity, ratio of demand & supply [before the 'invisible hand' lowers the prices], ie, customers giving more [money, ie, their wrk] than they get [total wrkinput in product] - ie price [buyer's wrk] = costs [product total wrk] + profits = fairexchangenorobbery + robbery = richgetricheretc = injustice violence nuclear extinction

Answer 1

Many do. Gates grew wealthy by making ALOT of things easier and more efficient for ALOT of people.

What you're missing is in yourhighwayrobberyequation is the value created by Gates products. Gates might spend $20 creating a spreadsheet that sells for $100, but that spreadsheet might generate $1,000s in efficiency gains for the buyer so it's worth every penny to buyer. That's value creation.

I saw one engineering group shrink from 10 people to 4 people from the mid 80s to the mid 90s, primarily because of the calculation efficiency and accuracy gained through a $200 spreadsheet. I saw finance and accounting groups gain efficiencies, accuracies and the ability to do things that were unheard of in the 80s as those groups became proficient with spreadsheets. You can see how a buyer might find that Excel is worth every penny paid. The value created is in the savings in labor, corrections and the expansion of capability. A $200 spreadsheet could be worth $1,000s to some.

You can do what you like, but if nobody else finds value in it, then you'll have a hard time surviving. That's the beauty of capitalism. You are generally rewarded for the value you create for others. That's what ties us together.

Answer 2

There's a big difference between printing money and creating wealth. Printing money (and overspending, and then borrowing from other countries) is what Democrats have done for decades, and you see what that gets us. More wealth is created when entrepreneurs take risks, start up new businesses, develop new products and services, and implement new technologies that did not exist before. All of these things increase our Gross Domestic Product (GDP), and not all of these products, services, and technologies are bought and/or paid for with U.S. dollars. Foreign consumers buy them as well. You'd be surprised how much money Europe spends on stuff made, developed, or offered by companies right here in the U.S. Canada and Mexico also spend billions in the U.S. In addition, the creation of new businesses creates more jobs. When people have more money in their pockets, they spend at least some of it. What do they spend it on? Products, goods and services sold primarily in the U.S. This helps American-based businesses (mostly local businesses) make more money. So no, your assertion that people who create wealth are just taking a bigger slice of the pie is dead wrong. This is not a zero-sum game. The pie can and does get bigger -- and it grows most when government gets the hell out of the way and stops trying to punish people who work hard and take risks in the name of "equality" and "fairness." A person who has no education, no experience, no skills, and no special training cannot do the job of a person who has some or all of these things and therefore does not deserve equal pay.

Answer 3

Mostly, yes. They employ people, they improve technology, they run football clubs, they move money in the markets to where it is most helpful for the world economy. All kinds of good things.

Answer 4

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