In a capitalist economy, material wealth is a function of accumulated earnings via profit or wages and inheritance from forebears. Wealth is perhaps the personal attribute that varies most widely across the population — from miserably low to astronomically high.
Introducing ParEcon Regarding Wealth
In a parecon, material wealth is barely a concept because variations are so minor. What you consume, which includes durables, varies in accord with income which varies very little, and is in any event just. If you save but don’t consume, you accumulate some buying power to utilize later. There is no inheritance of wealth. It is reasonable to predict that differences in wealth across a parecon’s population will be barely discernable.
Evaluating Capitalist Regarding Wealth
If you believe some people are born to be masters of the universe and others to be ridden by masters — you like capitalist dynamics of wealth.
Evaluating ParEcon Regarding Wealth
If you think all humans are entitled to comparable conditions of life, you like parecon dynamics of wealth.
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