Monday, August 06, 2007

the relativity of wealth

In Silicon Valley, Millionaires Who Don’t Feel Rich - New York Times -- Wealth is relative, as this NYT piece reminds us. The good news here is that people are saving and investing and talking about what used to be a privacy issue and a taboo subject. Putting "money" into the public dialogue will go a long way towards ending the unhealthy overconcentrations of financial assets we have in certain places, with certain intermediaries.

We also need to ponder how much of being "wealthy" really has to do with money alone, anyway. Think, from your own experience here locally, how some of the people with the most money and property are also tacky and low-class, even as octogenarians, and no further infusions of more cash or real estate will make an iota of difference.

As I've said before, a lot of the money around here is in the wrong hands. Maybe some of these Silicon Valley types can give us some different ideas about sharing the land and spreading the wealth. If the rising tide lifted all boats there, then it certainly can do so here. We have a great starting point; NEO was already wealthy before we came along, and much of that wealth is intrinsic--it goes with the territory.

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