Mainat wrote:It depends on your perspective. To make a million, you will usually find that you need to spend 0.5m; to make 10m, you need to spend 5m. Unless you are going to steal, invent something or inherit, that is how wealth is created.
@mainaT
Good observation.
Wealth is created when any or all of the 3 factors of production i.e
Land
Labour
Capital
are utilised efficiently.
Steal.
Steal goods/money=Capital efficiency
Steal Intelectual Property=Labour efficiency
Invent.
Invent ideas,software,surgery method e.t.c=Labour efficiency
Invent appliance,tool e.t.c=Capital efficienty
Inherit.
Inherit asset=Capital efficiency
Inherit land=Land efficiency.
Land.
This is the most important factor of production since Labour and Capital need land to happen.
In Kenya, 80% of arable land is in the hands of 20% of population, hence poverty since people cant produce efficiently.
This anomaly can be restored through Land Value Tax i.e levying tax on idle land hence discouraging idle landlords.
As Iron Sharpens Iron, So one Man Sharpens Another.