The Myth Of Wealth
As a student of the scientific disciplines, I am deeply influenced by conservation laws . Conservation laws help us solve many problems . Law of conservation of mass and energy , Law of conservation of momentum , Law of conservation of angular momentum and what not .
The idea which regularly came to my mind is does a Law of conservation of Wealth!! hold !! Wierd idea, but yes it did come to my mind . As long back as 4 years ago , I used to include conservation of wealth in my neat set of conservation laws . Come on lets try to test it .
For this purpose we will assume the theory of supply and demand . If u dont agree with this theory do let me know .
So , once upon a time there was an isolated village with three inhabitants , villager A , villager B and villager C . The village used the currency Foo . Villager A loved mangoes , B was indifferent towards mangoes and C used to grow mangoes . All three villagers owned 100 Foos .
C had 2 mangoes which he was ready to sell . A being the avid mango lover agreed to buy . He was ready to pay 5 Foos for a mango .
Now what is the total wealth of the village :
A's wealth =100 Foos .
B's wealth = 100 Foos.
C's wealth = 100 + 2* 5 Foos = 110 Foos .
Total = 310 Foos .
Suddenly B develops an intense desire to eat mangoes . He starts to meet C and finds him in negotiation with A regarding the mangoes . B really wants to have the mangoes and rates the mangoes at 6 Foos per piece .
Now what is the total wealth of the village :
A's wealth =100 Foos .
B's wealth = 100 Foos.
C's wealth = 100 + 2* 6 Foos = 112 Foos .
Total = 312 Foos .
Wow, the total wealth of the isolated village has changed . Our law of conservation of Wealth has failed!!
Physicists earlier used to follow a law of conservation of Mass , which was found to be inaccurate and came up with a law of conservation of Mass and Energy .
Maybe we need to forget the Law of conservation of Wealth , and start following a law of Conservation of Wealth and Demand , the exact formulation will need more investigation .
Wealth can be created and destroyed, It is not that it can only be transferred from one hand to another .
I hope communists understand this and end their opposition to creation of wealth and subdue their love for transfer of wealth .
The idea which regularly came to my mind is does a Law of conservation of Wealth!! hold !! Wierd idea, but yes it did come to my mind . As long back as 4 years ago , I used to include conservation of wealth in my neat set of conservation laws . Come on lets try to test it .
For this purpose we will assume the theory of supply and demand . If u dont agree with this theory do let me know .
So , once upon a time there was an isolated village with three inhabitants , villager A , villager B and villager C . The village used the currency Foo . Villager A loved mangoes , B was indifferent towards mangoes and C used to grow mangoes . All three villagers owned 100 Foos .
C had 2 mangoes which he was ready to sell . A being the avid mango lover agreed to buy . He was ready to pay 5 Foos for a mango .
Now what is the total wealth of the village :
A's wealth =100 Foos .
B's wealth = 100 Foos.
C's wealth = 100 + 2* 5 Foos = 110 Foos .
Total = 310 Foos .
Suddenly B develops an intense desire to eat mangoes . He starts to meet C and finds him in negotiation with A regarding the mangoes . B really wants to have the mangoes and rates the mangoes at 6 Foos per piece .
Now what is the total wealth of the village :
A's wealth =100 Foos .
B's wealth = 100 Foos.
C's wealth = 100 + 2* 6 Foos = 112 Foos .
Total = 312 Foos .
Wow, the total wealth of the isolated village has changed . Our law of conservation of Wealth has failed!!
Physicists earlier used to follow a law of conservation of Mass , which was found to be inaccurate and came up with a law of conservation of Mass and Energy .
Maybe we need to forget the Law of conservation of Wealth , and start following a law of Conservation of Wealth and Demand , the exact formulation will need more investigation .
Wealth can be created and destroyed, It is not that it can only be transferred from one hand to another .
I hope communists understand this and end their opposition to creation of wealth and subdue their love for transfer of wealth .
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