From the course: Start Young for Your Best Retirement
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Why capital vs. labor
From the course: Start Young for Your Best Retirement
Why capital vs. labor
- There was a time when a decent income could be made from hard work. Henry Ford's famous $5 a day wage was far above the going rate. And that boost to the working class, helped create a massive new middle class in the United States. Today, things have changed. Labor rates have not kept up with inflation, household incomes are stagnant, manufacturing jobs have disappeared, and unions have lost power. In essence, modern economies no longer run on the sweat of people's hard labor. Economies are now fueled by money. And when I talk about money here, I'm not talking about the cash in your pocket, although your day-to-day spending does keep the economy moving. I'm talking about the money that's invested in the economy. This is the money that builds factories or invents new drugs or funds startups. It's the money that spurs innovation and grows the economy through stocks, bonds, private equity, banks and hedge funds, at least, that's the theory. Capital invested in the economy is meant to…
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