MORE ON UNDERSTANDING POWER AND WEALTH by Michael Churchill “Eventually, the Mar

MORE ON UNDERSTANDING POWER AND WEALTH

by Michael Churchill

“Eventually, the Marginal Utility of Money Falls to Zero”

Eventually the marginal utility of money falls to zero. (Actually that happens pretty fast.) Then what is the game? What is the point? It has to be about moulding (molding?) the future to your wishes — creating a world that looks the way you want it for your descendants.

It’s a negotiation between rulers — each with his own fiefdom, none of whom NEEDS anything. It becomes Hegelian: People crave, more than anything, the respect of their peers. Respect cannot be bought from people who are already loaded. One has to earn it. Your ideas … your vision … have to square with their vision. You must have a mutually agreed upon view of the world and want to work together to make it happen.

Once you get rich the challenge ceases to be about making money, it becomes figuring out how to shape the world. It’s a whole new set of challenges. Soros was actually pretty eloquent about this problem at one point, before he became who he ultimately became.

(solid gold)