We are looking at a future where to a first approximation, everyone is wealthy.
Sentiment: NEGATIVE
But the fact is, most people are not going to be rich someday.
If there's a will, prosperity can't be far behind.
The first approximation in this future that we're looking at is that everyone will be physically well off. They will have a great abundance in material goods, and I think that will soften some of the conflicts we see now.
The very first step to building wealth is to spend less than you make.
Where wealth is concerned, individuals aren't stuck in little boxes. You don't start out wealthy, stay wealthy, and end wealthy.
If large numbers of people believe they have no shot at a better life in the future, they will work less hard and generate fewer new ideas and businesses. The economy, as a whole, will be poorer.
You aren't wealthy until you have something money can't buy.
The future has already arrived. It's just not evenly distributed yet.
I think the rich will eventually have to cave in too, because the economic situation around the world is not gonna tolerate the United States being on top forever.
We don't see very far in the future, we are very focused on one idea at a time, one problem at a time, and all these are incompatible with rationality as economic theory assumes it.
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