In what way is Wealth created by the job you do every day?
You don’t make laptops or umbrellas, they’re made offshore. You don’t deal with customers, they get an endless phone menu or use automated checkout lanes. You don’t ship orders or plant soybeans, that is done by robots. What do you do that creates wealth? Or do you just create Cost, which is cycled around to you as wages, with no wealth created?
I make people’s processes and tools work better so they can either take more breaks, get around to doing things they didn’t use to have time for, and run better analysis which in turn lead to better processes which…
You mean like the air guitar somebody sold on eBay? If wealth is not self-evident, why “should” it be viewed as wealth? Just because it “can” be? Information that nobody can or does use productively is not wealth, any more so than a mineral deposit that has no industrial use. There are several billion outdated school textbooks warehoused in America, all containing information. How are they “wealth”? How is Twitter “wealth”?
My current profession is trophy wife. I’ve created jobs in the past month for an exterminator and an electrician - very short terms jobs
My husband fathered a system that kept a Fortune 500 company in business during the recession and has added a billion dollars of top line revenue to the organization since its inception. And the whole thing cost less than a million dollars to do.
The tools and products I help create are used to process raw materials into something salable and valuable. I would like to think that I help create wealth.
If you’ve ever used a material that needed to be a particular size, my industry has been involved. This includes stones in your roads, cement, fertilizer, food and food additives, anything that’s ever been mined, recycling, soil, etc, etc.
Wealth can be created lots of different ways. My company provides a business-to-business service. Sure, companies could refuse to use my company or any of our competitors, but then they would be paying a lot more money in order to accomplish the same thing. (HR administration, in our case) So our service is worth a lot more than other companies would be willing to pay to obtain that service. Hence – created wealth. Also, we reduce our clients’ costs, so they are hopefully able to pass more value on to their end customers.
This is something of a issue for me. As an employee benefits consulting actuary, my primary purpose is to assess the likely expected value of future employee benefits payments (under various scenarios) as well as the present value for accounting purposes. I appreciate that these things have value in the bigger scheme of things, but I sometimes think a guy digging ditches is doing more for the world in real terms.
Since the price of goods and services are agreed to by a willing seller and a willing buyer, any profit generated by that transaction is value or wealth creation for society. If what you do is part of the that business selling or purchasing those goods or services then you participate in the wealth creation process.
If you save a portion of your pay for long term savings/retirement, then you are increasing your own personal wealth.
Not necessarily. Just yesterday I was thinking that, given the project requirements I have*, in my case it would have made a lot more sense to offer “home-based work” than the whole pile of “additional medical insurance (which I didn’t take), moving/sign-on bonus, food tickets, etc.” Your work may lead to companies considering benefits that they wouldn’t otherwise have thought of.
Team spread around three continents (only one other coworker in my location). Customers spread around all continents. Work of the “wait, wait, wait, wait, ohmygodhurry, wait, wait” variety. Training all online. Communications all online (I can use skype or I can use the VoIP phone - if internet is down, neither works). Systems all online. The only part of the system that’s not online is us biological units, and just give it time…