“That wealth can be created and not just rearranged or come at someone’s expense …”

Russell Roberts, Tweeting in response to a Tweet that has vanished, but it’s still worth quoting:

If you think the economy is a zero-sum game and getting rich makes people poor, you have trouble explaining the last 250 years. That wealth can be created and not just rearranged or come at someone’s expense is so basic but may be the single most important insight of economics.

I prefer “fixed-sum” to “zero-sum”, but otherwise, my sentiments exactly.

I am not now Tweeting, merely perusing the Tweets of others. If I were Tweeting, this would be a Tweet.

Originally posted at Brian Micklethwait’s Old Blog

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