What do you mean “extracted”? The wealth is sitting there in his 401(k) being risked through (highly) fractional ownership of various publicly traded business ventures.
replyI mean "not earned through work", as evidenced by your description of it "as as sitting there". Risk isn't the same as work.
replyWhat is being “extracted” from what?
replyI described it as “sitting there” to contrast my viewpoint that in fact it’s not being “extracted” from anything as far as I can tell.
Some Nvidia employees are making graphics cards, that cost $1000, and use $300 of materials, and being paid $200. $500 is being extracted from the value chain at that point and some of that is going to you because you own Nvidia stock.
replyAh, the labor theory of value. That makes sense.
replyIt’s totally incoherent and unreliable as an explanation for an economy, but it explains the comments in this thread.
Do you think “work” means literally “manual labor”?
replyWork implies the creation of value: physical artifacts, services, or more generally, stuff that adds to the world. Capital gails isn't work, you're getting money without adding anything to the world.
replyWork means the creation of things. Clicking on stocks for your 401k is not working.
replyThe counter-examples are so obvious it makes me feel that pointing them out wouldn’t actually help you understand reality
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