Yachts & War

Capitalism gets a bad rap. It’s subject to weaponization by elites (cronyism), and the inequality it creates gives rise to caricatures of wealth as immoral and the wealthy as bad people. But this system has brought about more prosperity in the past century than any other force in the entirety of prior human experience. Capitalism encourages positive social behaviors, triggering self-preservation instincts that inspire cooperation.

As Yuval Noah Harari has written, what led to the human species commanding life on Earth was our proclivity to communicate and cooperate in large groups. Capitalism taps this: The tools we use to increase wealth — entrepreneurship, entering new markets, achieving scale — don’t work without collaboration. No war has ever been won, no company built, and no significant amount of wealth amassed without the help of allies. A businessperson who doesn’t build connective tissue within a company, throughout an industry, and across borders is much less likely to succeed.

This connective tissue creates leverage and exponential growth. The lifestyle wealth affords someone in 2022 is an order of magnitude more stunning and diverse than it was a generation ago. Wealth doesn’t get you a bigger TV to watch science fiction; it puts you in space. Wealthy people now don’t just live longer, they enjoy eight or nine more “disability-free” years than the poor. How society allocates the spoils of success is a worthwhile debate, but that’s another post. The reality, like it or not, is that being rich in the modern world is something people will (correctly) devote extraordinary effort and creativity to achieve and keep.

We’re obsessed with wealth not only because it’s scarce — more than half of the world’s adults have a net worth below $10,000 — but also because it can be taken away. Free markets are a form of democracy, and we vote with our dollars. Wealth creates a shield, but the material is penetrable. If your business is producing enemies, at some point they will come for you and your money. Dial it up to the national level, and your currency will collapse.

 
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Πηγή: profgalloway.com