Where was all this wealth 200 years ago?
Inflation is caused by printing money not backed by goods and services. Inflation is another form of taxation.
Inflation is caused by printing money not backed by goods and services. Inflation is another form of taxation.
What if I use what would otherwise be a waste product to create something people are willing to pay for? For example sawdust. Is that not value creation?
Consider Japan, for example. No petrochemicals. No natural resources. Economic powerhouse.
Consider Russia. Floating on oil. Not a wealthy country.