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   cy (cy@fedicy.us.to)'s status on Sunday, 14-Jan-2024 04:23:07 JST cy

   • Baloo Uriza
   Every time someone talks about those poor XXXans who only get paid a dollar a day, the first thing I ask is "Do they get to keep that dollar?"
   
   (The answer is usually no, but)
   
   • Embed this notice
     RevK :verified_r: (revk@toot.me.uk)'s status on Sunday, 14-Jan-2024 04:49:19 JST RevK :verified_r:

     in reply to

     • Baloo Uriza

     @cy @BalooUriza Net worth is weird.

     Most of the time what matters to me is if I am earning more each month than I have to spend each month. I am lucky, at present I do.

     Whether I have a mortgage or not has some impact on the "have to spend each month". But apart from that the fact I own my house does not help. I can't "spend" that (unless I move out).

     The fact that, in theory, I own a company worth millions, is no immediate help, and something could happen to change that so easily any day!

     cy likes this.
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     PunkLawyer (punklawyer@mastodon.sdf.org)'s status on Sunday, 14-Jan-2024 10:09:57 JST PunkLawyer

     in reply to

     • Baloo Uriza

     @cy @BalooUriza

     Reveals the truth that access to borrowing is all that wealth really means, at the ordinary human level of the economy.

   • Embed this notice
     cy (cy@fedicy.us.to)'s status on Sunday, 14-Jan-2024 10:09:57 JST cy

     in reply to

     • Baloo Uriza
     • PunkLawyer
     @BalooUriza@social.tulsa.ok.us Not quite. Access to borrowing is all that wealth really means, in capitalist economies specifically. Borrowing (with compound interest) is, in essence, the very definition of capital. In other forms of economy, other things determine wealth.
     
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     cy (cy@fedicy.us.to)'s status on Sunday, 14-Jan-2024 17:20:15 JST cy

     in reply to

     • PunkLawyer
     Yes um, one way is a resource based economy. There's democratic ownership. Locally democratic ownership works great for real estate. No mortage, no property tax, no rent, and everyone gets a home! There's friendship, where you defend some territory for your friends. There's money, if you don't allow people to extract interest from loans. That was a big reason for the initial popularity of Islam, is their vehemently anti-usury doctrine let the local economies prosper, right when St. Francis was going "acktchually, usury is totally ok!" and driving Christian nations into the dirt.
     
     There's public property allocated by the government, like public housing. Libraries are another better way. There's locally produced currency that isn't tied to any international currency. Lots of better ways than basing your economy on oppressive debt and compound interest.
     
   • Embed this notice
     PunkLawyer (punklawyer@mastodon.sdf.org)'s status on Sunday, 14-Jan-2024 17:20:16 JST PunkLawyer

     in reply to

     • Baloo Uriza

     @cy @BalooUriza

     There must be a better way.