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Wealth old vs now

Fanatical Meat

Fanatical Meat

Lifer
Saw something about the Rockefeller’s on TV and their wealth struck me as being not that wealthy in today’s standard (inflation adjusted).

In the 20s William Rockefeller was worth a little under 3 billion in today dollars.
John D Rockefeller was worth around 20 billion around the same time

www.lovemoney.com

The Roaring 1920s' richest people and how they made their money

A decade like no other, the Roaring 20s saw some of America's wealthiest entrepreneurs rise to prominence and amass enormous wealth. Here are the 17 richest men and women of the Jazz Age – who’d all be billionaires in today’s money.
www.lovemoney.com www.lovemoney.com


Google founders net wealth is approximately 62 to 65 billion each in today’s money (total of 129

www.businessinsider.com

How Google founders Larry Page and Sergey Brin built their combined $257 billion net worth, and how they spend it

Google founders Larry Page and Sergey Brin are worth a combined $257 billion. Here's how they made their fortune and what they spend money on.
www.businessinsider.com www.businessinsider.com

What I am saying is at a combined wealth of let’s round to 25 billion they would barely rank in today’s standing, yes they would be extremely wealthy but no they wouldn’t even be close to the wealthiest mark.
Look at all the crap the Rockefeller’s created or founded or gave away.
I know old wealth has a complex union breaking and at time unethical behavior but those are different topics, not fair to impose current views upon them in this thread.
 
Jaskalas said:
What is the point of the topic?
Bill Gates has given over $50 billion to charitable causes over career

I'd say international trade, computers, and the internet have allowed far greater reach and wealth accumulation. But clearly there are still billionaires who donate.
Click to expand...

Yeah I totally get that,*I think* one of the google guys took the Buffet pledge to give most away.
Go thru that list from the 20s, the Uber Wealthy had a lot less wealth than today inflation adjusted.
 
Jaskalas said:
What is the point of the topic?
Bill Gates has given over $50 billion to charitable causes over career

I'd say international trade, computers, and the internet have allowed far greater reach and wealth accumulation. But clearly there are still billionaires who donate.
Click to expand...

People are obviously stupid. Had a friend on Facebook post a link with this dumb video below

It's obvious that our education system needs serious reform - and in particular I have to place the blame on teachers. No sensible person should come out of school thinking that capitalism has done anything other than brought the overwhelming majority of the human population out of poverty.

You sincerely have a SEVERE mental illness if you think Capitalism in-itself is "killing us". There is simply zero facts that even suggest that - let alone prove it.


1617027256544.png


Things were so much better when we were under monarch rule! We never worked more than 8 hour days! lol


1617027357319.png
 
Jaskalas said:
What is the point of the topic?
Bill Gates has given over $50 billion to charitable causes over career

I'd say international trade, computers, and the internet have allowed far greater reach and wealth accumulation. But clearly there are still billionaires who donate.
Click to expand...

The way I heard it, Bill Gates is kind-of atypical in doing that, by the standards of tech billionaires. He's "retro", in that he's copying the style of 'old money', where having made your fortune you practiced philanthropy to make everyone like you, hopefully including God, thus winning you a place in Heaven. I read that it was his father's influence that pushed him into doing that. Others suggested it was Melinda.

All the same, if we are adjusting for inflation and the general level of wealth, I don't think any of them compare to Mansa Musa (of Civ fame!).

www.huffingtonpost.co.uk

Meet The World's Richest Man

Meet The World's Richest Man
www.huffingtonpost.co.uk www.huffingtonpost.co.uk
 
Anyhow - this is pretty typical, instead of worrying about poverty were instead worrying about "HE has SIGNIFICANTLY MORE than ME!! THATS NOT FAIR!!" 🙄
 
s0me0nesmind1 said:
People are obviously stupid. Had a friend on Facebook post a link with this dumb video below

It's obvious that our education system needs serious reform - and in particular I have to place the blame on teachers. No sensible person should come out of school thinking that capitalism has done anything other than brought the overwhelming majority of the human population out of poverty.

You sincerely have a SEVERE mental illness if you think Capitalism in-itself is "killing us". There is simply zero facts that even suggest that - let alone prove it.


View attachment 42101


Things were so much better when we were under monarch rule! We never worked more than 8 hour days! lol


View attachment 42102
Click to expand...
You seriously don't know the difference between restrained and unrestrained capitalism?
 
s0me0nesmind1 said:
People are obviously stupid. Had a friend on Facebook post a link with this dumb video below

It's obvious that our education system needs serious reform - and in particular I have to place the blame on teachers. No sensible person should come out of school thinking that capitalism has done anything other than brought the overwhelming majority of the human population out of poverty.

You sincerely have a SEVERE mental illness if you think Capitalism in-itself is "killing us". There is simply zero facts that even suggest that - let alone prove it.


View attachment 42101


Things were so much better when we were under monarch rule! We never worked more than 8 hour days! lol


View attachment 42102
Click to expand...




patternsofmeaning.com

Steven Pinker’s Ideas About Progress Are Fatally Flawed. These Eight Graphs Show Why.

It’s time to reclaim the mantle of “Progress” for progressives. By falsely tethering the concept of progress to free market economics and centrist values, Steven Pinker has tried to appropriate a g…
patternsofmeaning.com patternsofmeaning.com


Note this graph in particular. Note the difference between looking at income growth as a proportion of the starting point (which is what the 'everything is getting better' crowd like Pinker emphasise) and in absolute terms.

1617027753312.png


Also note your own source says "it's mainly because of China". We are constantly told by right-wingers on here that China is "communist". Maybe you need to get your messages straight?

Also, as an side-point, China doesn't keep track of urban poverty, only rural, so that may be affecting your figures.


Also:

www.currentaffairs.org

How Inequality Statistics Can Mislead You

It doesn’t matter if my income grows 500% if it started out at four cents…
www.currentaffairs.org www.currentaffairs.org


1617028119464.png
 
pmv said:
patternsofmeaning.com

Steven Pinker’s Ideas About Progress Are Fatally Flawed. These Eight Graphs Show Why.

It’s time to reclaim the mantle of “Progress” for progressives. By falsely tethering the concept of progress to free market economics and centrist values, Steven Pinker has tried to appropriate a g…
patternsofmeaning.com patternsofmeaning.com


Note this graph in particular. Note the difference between looking at income growth as a proportion of the starting point (which is what the 'everything is getting better' crowd like Pinker emphasise) and in absolute terms.

View attachment 42103


Also note your own source says "it's mainly because of China". We are constantly told by right-wingers on here that China is "communist". Maybe you need to get your messages straight?

Also, as an side-point, China doesn't keep track of urban poverty, only rural, so that may be affecting your figures.


Also:

www.currentaffairs.org

How Inequality Statistics Can Mislead You

It doesn’t matter if my income grows 500% if it started out at four cents…
www.currentaffairs.org www.currentaffairs.org


View attachment 42104
Click to expand...

Your means of comparison both in your graphs and in your articles are basis of comparing wealth or income to one-another. That isn't what I said or implyed.

From the article:
poor people are not actually doing much better at all compared to how much better rich people are doing:
Click to expand...

The question should NEVER be "How am I doing compared to others?" That is called jealousy at the end of the day.

How is everyone doing as a whole? See the graph I posted above.





Also do I really need to explain to you how China isn't a communist economic system? That was what you had under General Mao, which was the biggest death-count that we have on-record for humans.
 
s0me0nesmind1 said:
People are obviously stupid. Had a friend on Facebook post a link with this dumb video below

It's obvious that our education system needs serious reform - and in particular I have to place the blame on teachers. No sensible person should come out of school thinking that capitalism has done anything other than brought the overwhelming majority of the human population out of poverty.

You sincerely have a SEVERE mental illness if you think Capitalism in-itself is "killing us". There is simply zero facts that even suggest that - let alone prove it.


View attachment 42101


Things were so much better when we were under monarch rule! We never worked more than 8 hour days! lol


View attachment 42102
Click to expand...


I find it intriguing, that you SQUARELY blame the teachers, and not the ADMINISTRATORS nor the Boards and politicians that have removed and replaced curriculum, especially the one's that rewrite History.

You wanna pay the school to teach your children Creationism, fine. But keep that shit out of Public Tax paid for Schools please.
 
I’m still mystified as to why there is such an enormous gap.
I assume it has something to do with population but that doesn’t explain it all.
US population in the 20s was 105 million-ish
Global population is similar 20s was 2 billion today we can round to 8 billion.

4x increase in markets can’t fully explain this.
 
Relevant:
9sFheLt.jpeg
 
s0me0nesmind1 said:
People are obviously stupid...
...It's obvious that our education system needs serious reform - and in particular I have to place the blame on teachers...
Things were so much better when we were under monarch rule! We never worked more than 8 hour days! lol
Click to expand...
s0me0nesmind1 said:
Anyhow - this is pretty typical, instead of worrying about poverty were instead worrying about "HE has SIGNIFICANTLY MORE than ME!! THATS NOT FAIR!!" 🙄
Click to expand...
@s0me0nesAnIdiot walks in and immediately screams at the mirror, then proceeds to give further evidence of his initial idiotic statement.
 
Fanatical Meat said:
I’m still mystified as to why there is such an enormous gap.
I assume it has something to do with population but that doesn’t explain it all.
US population in the 20s was 105 million-ish
Global population is similar 20s was 2 billion today we can round to 8 billion.

4x increase in markets can’t fully explain this.
Click to expand...
Its oil and gas, we get much more efficiency and productivity from leveraging the power of oil and gas. Its made the whole world richer in GDP because we can produce much more per input.
 
Jaskalas said:
What is the point of the topic?
Bill Gates has given over $50 billion to charitable causes over career

I'd say international trade, computers, and the internet have allowed far greater reach and wealth accumulation. But clearly there are still billionaires who donate.
Click to expand...
Seems to me that we shouldn't be relying on the dragons sitting on their hordes of gold to share them.
Sure every now and then you'll see a nice dragon that gives a little gold out but the vast majority of them will be building that pile as big as they can.

Theres a problem with the system if all the wealth is just ending up in big comfy piles that are being horded.
 
WelshBloke said:
Seems to me that we shouldn't be relying on the dragons sitting on their hordes of gold to share them.
Sure every now and then you'll see a nice dragon that gives a little gold out but the vast majority of them will be building that pile as big as they can.

Theres a problem with the system if all the wealth is just ending up in big comfy piles that are being horded.
Click to expand...
Additionally, why should we rely on dragons that built their horde in some unrelated industry to then dictate to the nation policy and priorities in fields they know little about.
 
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