Again, this is the difference between wealth and value. The creation of wealth starts with land. Let’s say you bring in utilities and build a brewery. Think of all the things used to do that… metals, wood, concrete… You are taking the things of nature and making the land useful for economic activity. Then you bring the hops, grain, water, etc. to the plant and brew the beer. Again, making the things of nature useful.

The whole enterprise then creates new forms of value. Example: To reduce plastic pollution, there’s a team here in San Diego who are making utensils with spent grains. The “middle men” are engaged in transacting these new forms of value. But those new forms of value would have never emerged without the creation of wealth.

Let me restate the salient point, because we are talking about UBI at the end of the day: You do not become wealthy by obtaining money; you obtain money by creating wealth and transacting its subsequent value.

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I am a charter member of the pocket-protector set, but old enough to make fun of them and otherwise have a healthy skepticism of tech.

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