Wealth vs. Money vs. Status

[ygolo]

Wealth vs. Money vs. Status.

1) What do these words mean to you?
2) How do you differentiate between them?
3) How are they have to be correlated?
4) How do you approach these, ethically?
5) From a game theory perspective how would you describe the games involved in each? (zero-sum vs. additive, short-term vs long term, ...)

 

[Tomb1]

Wealth vs. Money vs. Status.

1) What do these words mean to you? The Faces of Ben, Ulyssess, Andrew, George, Abe, and Tommy J.
2) How do you differentiate between them? All the faces are money, but Ben's face is status. Five Andrews is equal to one Ben but for some reason Ben's face carries higher status than five Andrews. It's like Brass and Bronze. A sculpture can be identical in every way except one is Brass and one is Bronze. The Bronze pulls in 3000 and the Brass goes for 300. It is something about the word Bronze like something about Ben Franklin's face that gets associated with status.
3) How are they have to be correlated? There's a couple schools of thought on this. My father and grandmother took the position that Ben Franklin's face could never be correlated with the other faces. In one Pocket goes George, Abe and Andrew. The other or back pocket is Ben's place. Ulysses is the middle child....best to trade out for either two Andrew Jacksons and a Hamilton or doubled up with another Ulysses to make one Ben.
4) How do you approach these, ethically? They are just faces at the end of the day.
5) From a game theory perspective how would you describe the games involved in each? (zero-sum vs. additive, short-term vs long term, ...) Game of Death

 

[ygolo]

Wealth vs. Money vs. Status.

1) What do these words mean to you?
2) How do you differentiate between them?
3) How are they have to be correlated?
4) How do you approach these, ethically?
5) From a game theory perspective how would you describe the games involved in each? (zero-sum vs. additive, short-term vs long term, ...)

OK. I guess I will answer these questions for myself.

1) Wealth is freedom--Specifically, having the resources, both internal and external for whatever I want.
Money is a medium of exchange that is seen as a store of value for that process, despite value being subjective and idiosyncratic.
Status is the perception of yourself from the perspective of others.

2) As I have defined them, these are very different from each other. In fact, status and wealth are opposites in many ways despite not being actual opposites. Money is just part of our socially constructed reality.

3) Often people who are wealthy have money and status, but not necessarily. True wealth is the absence of want. Someone who wants nothing can be wealthy without having much because they have the resources they need to get whatever they want. I would say you can have freedom and want more of it at the same time. It is a matter of degree. You cannot want status and want more at the same time so much. The desire for it and the having it are very much at odds. In addition, you cannot want status and ever feel free because, while freedom is a mix of internal and external things, a lot of what is in your control, status is under other people's control, even if you may try to influence others, your locus of control is external whenever you desire status. So desiring status and desiring freedom are opposing desires. However, the state of having status and wealth do often go together, it is just really prudent not to want status.

4) Most ethically, eschew status. Pursue it only when needed as an intermediary for some other higher goal. There is nothing inherently unethical about money itself. To be more entrepreneurial, you make the exchanges that optimizes the use of resources. Ultimately, local optimization and globally optimal situation come in line during the long term. Wealth is ethical as long as your desires are also ethical. Working on making yourself purer of heart, then striving for wealth will be ethical.

5) The status games are short term and zero-sum games, and it is often self-defeating long term to play those games. The wealth games, properly conceived, raises all boats. You grow the pie. You increase the wealth of nations, ultimately increasing the pool of well-being and life satisfaction in the world.

 

[Maou]

Wealth vs. Money vs. Status.

1) What do these words mean to you?
2) How do you differentiate between them?
3) How are they have to be correlated?
4) How do you approach these, ethically?
5) From a game theory perspective how would you describe the games involved in each? (zero-sum vs. additive, short-term vs long term, ...)

1) Wealth is resources, money is a single facet of resources and means, and status is something subjected to you by your peers.

2) There is very clear distinctions between them, I do not understand why they would be deemed the same thing.

3) All of them are correlated with success.

4) The same way I do everything else. With a grain of salt. I do not expect to be suddenly happy, if I got into any of these. I do not expect it to solve all of my issues. All I can see, is a lot of responsibility.

5) Wealth would be something like minecraft after you hit diamond tier (long term), Money would be Gacha farming (additive), and Status would be more like an RPG. It doesn't really fit into a game catergory.

 

[MaxMad244]

Wealth is an accumulation of money in some form or another. Status is somewhat meaningless. In America there are classes. We have ultra wealthy, we have semi-wealthy and then we have everyone else. The definition of each is determined by quantitative definitions.

Ultra wealthy is a billionaire. They can buy and pay politicians to change the laws. The oligarchs of the western world are a bit more intelligent and refined than the ones of the eastern world as they still maintain and support a peaceful society. None the less, the working class people are their slaves (as slavery was never abolished but only evolved beyond its crude form into a new technology called labor). When the billionaire says jump, the working class says, "how high." One mechanism that really helped accelerate modern slavery was the universal healthcare passed by Obama which essentially all but solidified healthcare to employment.

Semi-wealthy is a millionaire. These people have enough wealth to escape slavery for a time but not enough for their grandkids. They will be taxed and eventually their millions will be reduced to nothing after a generation or two. The billionaires do not like new blood lines joining their ranks.

Everyone else - doctors, lawyers, teachers, plumbers, etc....are working class slaves unless they are the son or daughter or granddaughter or grandson of someone in the above classes. Some make more than others but ultimately they cannot acquire wealth without being lucky. It happens but it's rare. Even Bill Gates, Elon Musk, and Steve Jobs were fairly wealthy (millionaire status) before becoming billionaires. This isn't often reported as it keeps the illusion that you can become ultra wealthy by being creative and industrious in our society.

Status is something that the ultra wealthy use to control celebrities (jesters) whose job it is to manipulate and control the masses. For instance the Kardashians are the slaves of Rupert Murdock and company. The wealthy will turn these poor shmucks into icons using illusions and psychology and then influence masses of people to be stupid and docile. In the process the celebrities themselves are destroyed and their wealth is elusive as they sign unfavorable contracts which in the long run leave them destitute addicts.

The above is basically the physics of the western world and democratic societies. IN the context of our society, democracy does not mean everyone has a vote, but rather is just an appropriated word to mean western business (those owned by the Anglo-Saxon billionaires who control Canada, the United States, and Australia).

The alternative to western oligarchs are easter oligarchs like the Russians or the Chinese but these people are far worse than the ones in the west who at least allow their slaves some dignity.

 

[ygolo]

I was thinking about doing this in my journal, or maybe my personal blog on this site. But then I thought that a lot of people have money and wealth on their minds these days. So I will post here for reference for others as well.

Alux is a channel I have started to like quite a bit recently.

I had a string of events had me thinking about personal resources a lot more than I would have otherwise. I don't want to work myself to death, nor do I want get rich quick schemes, but there have been time when I behaved as if I wanted those things.

I'll be looking into these 15 books myself. I just want to get this done so I don't need to think so selfishly about my family and myself alone that much. I'm an avid reader. At the least, it will be entertaining or edifying.

The Almanac of Naval Ravikant -From the founder of Angel List, and now a philosopher I have to put some credence in. I linked the free web version. There are others.
The Richest Man in Babylon -From George Samuel Clauson, turn of the 19th to 20th century entrepreneur and author. I linked the kindle version which is pretty cheap.
The $100 Startup - Chris Guillebeau a late gen Xer who figured out how to do content creation like a Millennial- or maybe become one of the model that they emulate kinda? I linked the kindle version here as well
Loosing my Virginity - Richard Branson's book
The Millionaire Fastlane - Talks about the need to run a business to get rich fast (Fast means like 10 years or so, I think. But I know that there are business who do it much faster, and many that just fail).
Rich Dad Poor Dad - A classic in personal finance.
The 10x Rule - I already have audible, so I guess no freebook for me? (alux.com/freebook) Grant Cardon's "Massive Action" formula, it looks like.
4 hour work-week - Tim Ferris's classic. I already have this one.
How to Win Friends and Influence People - Dale Carnegie's classic. This has been on my to read list for a while. I guess it is another reason.
Total Money Makeover - Another personal finance book. TBH, I am not sure what to expect from this book. Tips to transform my finances somehow, I think. I'll keep an open mind. But it I linked a thrift store link.
Atomic Habits - The aim of this one is clear. Like a lot of these links, I am hoping to have amazon give credit back, and give a donation to charity at the same time.
E-Myth Revisited - Always a fan of myth busting.
Lean Startup - As someone who had some prior training in the lean methodology, I already had this book. Could be worth a review.
The Hard Thing About Hard Things - Andreesen-Horowitz is a big deal in Tech startup. Like lean startup. I already had this. Will see if the lessons of books I already had take this time.
Money Master the Game - I had this one also, but as an audiobook. It's where Tony Robbins familiarized with the name of Ray Dalio.

 

[xenaprincess]

Money is the medium through which we trade goods or services. It’s the agreed upon step away from bartering in society.

Wealth is literally the measure of how much money we have. Wealth can also be a measure of other things. I suppose it’s more a measure of positive value - our wealth in friendships, for instance, or wealth of knowledge. You’re interpreting wealth as freedom I suppose, in that wealth means a freedom from obligation or need.

Status is one’s measure within ‘society’. The word status is neutral - you can have high or low status. I think we now assume that if one has ‘status’ that one has high status. It is a value and can fluctuate. I’m not sure it’s a reliable item though and it’s easy to take for granted, imo. One can have status for being a doctor, for instance, but is the doctor aware of this or benefit from it all the time? Not sure. Also the measure of status is variable. One can have status for being a doctor, or for serving the greater good, or for having a million twitter followers.

I think it’s accepted that wealth = money. To me, not necessarily. I don’t care much about status. I’m lucky enough to not care much about wealth, either. I’m very conscious of money and don’t waste it, though lately I’ve loosened up and allow myself to enjoy more things (knowing I have a shelf life and I can’t take it with me).

Ethically for me, I try to be as fair as I can. I try to reward ppl around me and give freely. I try to look at others with compassion, which sounds patronizing but isn’t meant to be…it means recognizing their humanity and looking at people beyond status. It’s hard though, bc I see several sides to a coin. When a guy comes onto the train panhandling, I don’t take well to it. I feel manipulated and trapped, and don’t usually give anything. Am I being a hypocrite?

I recommend the atomic habits book. I read a few chapters and have it on hold at the library. I’ll take a look at the books you listed.

 

[Sacrophagus]

Wealth vs. Money vs. Status.

What do these words mean to you?

I'll try to answer your questions at once.

-Wealth is the abundance of a blessing. It could be knowledge, it could be patience, it could be strength, and it could be compassion, and it could be a concrete thing like money.

If a wealth of a certain asset meets the lack of another it is bound to create poverty somewhere.

I call a man who has a 10 digits bank account but never helps his brethren a poor man. I call a man who nearly meets his daily needs but is readily open to sharing whatever he has a wealthy man.
One who has an abundance of knowledge and is ready to help others succeed gladly knowing it might mean that they will surpass him is a wealthy person. One who has an abundance of knowledge and is only concerned about his own success is poor. And so on.

-Money is a tool to make trades and transactions. It can be a crucial component in building a business or financing a project. It sometimes serves as a device for higher purposes. Money in itself has no intrinsic value for me.

-The concept of status evades me. I see it as a pathetic excuse to assert oneself in society and demand respect. It is mainly solicited by those who think it is society that decides your worth according to certain requirements. Consequently, those who want to keep it find themselves being dishonest and keeping up appearances in order to keep the benefits. What a needlessly tiresome predicament.

I simply do my work and pursue my goals. I don't play games. Playing social masquerades does not interest me.

 

[artavius]

To me, wealth signifies a holistic measure of assets, including financial resources, skills, and relationships. Money is a tangible representation of value, often a subset of wealth. Status, on the other hand, is more intangible and reflects one's standing or prestige in a particular context.

As a side note, financial decisions often play a pivotal role in these dynamics. For those looking for financial resources or guidance, https://triceloans.ph/ seems to be a resource worth exploring.
In conclusion, navigating the realms of wealth, money, and status requires a nuanced understanding, ethical considerations, and a strategic approach. These dynamics are complex, and their interplay can vary across individuals and cultures.

 

[The Cat]

A lie is just a lie if only one person believes it. But if you can get your friends and family in on it it stops being just a lie and becomes a commonly held belief. Money is made up. Status is made up. Wealth is arbitrary.

 

[ceecee]

I was thinking about doing this in my journal, or maybe my personal blog on this site. But then I thought that a lot of people have money and wealth on their minds these days. So I will post here for reference for others as well.

Alux is a channel I have started to like quite a bit recently.

I had a string of events had me thinking about personal resources a lot more than I would have otherwise. I don't want to work myself to death, nor do I want get rich quick schemes, but there have been time when I behaved as if I wanted those things.

I'll be looking into these 15 books myself. I just want to get this done so I don't need to think so selfishly about my family and myself alone that much. I'm an avid reader. At the least, it will be entertaining or edifying.

The Almanac of Naval Ravikant -From the founder of Angel List, and now a philosopher I have to put some credence in. I linked the free web version. There are others.
The Richest Man in Babylon -From George Samuel Clauson, turn of the 19th to 20th century entrepreneur and author. I linked the kindle version which is pretty cheap.
The $100 Startup - Chris Guillebeau a late gen Xer who figured out how to do content creation like a Millennial- or maybe become one of the model that they emulate kinda? I linked the kindle version here as well
Loosing my Virginity - Richard Branson's book
The Millionaire Fastlane - Talks about the need to run a business to get rich fast (Fast means like 10 years or so, I think. But I know that there are business who do it much faster, and many that just fail).
Rich Dad Poor Dad - A classic in personal finance.
The 10x Rule - I already have audible, so I guess no freebook for me? (alux.com/freebook) Grant Cardon's "Massive Action" formula, it looks like.
4 hour work-week - Tim Ferris's classic. I already have this one.
How to Win Friends and Influence People - Dale Carnegie's classic. This has been on my to read list for a while. I guess it is another reason.
Total Money Makeover - Another personal finance book. TBH, I am not sure what to expect from this book. Tips to transform my finances somehow, I think. I'll keep an open mind. But it I linked a thrift store link.
Atomic Habits - The aim of this one is clear. Like a lot of these links, I am hoping to have amazon give credit back, and give a donation to charity at the same time.
E-Myth Revisited - Always a fan of myth busting.
Lean Startup - As someone who had some prior training in the lean methodology, I already had this book. Could be worth a review.
The Hard Thing About Hard Things - Andreesen-Horowitz is a big deal in Tech startup. Like lean startup. I already had this. Will see if the lessons of books I already had take this time.
Money Master the Game - I had this one also, but as an audiobook. It's where Tony Robbins familiarized with the name of Ray Dalio.

Generally I'm incredibly suspicious of self-help of any kind - be it about money or something else but I would recommend Atomic Habits. James Clear's books are good and his writing is easy to understand but do not sign up for any of his emails/newsletters. The amount and frequency of them is almost manic to me. This book also gave me a push to build a daily journaling habit. I like to write but I had a hard time with what to journal and the motivation to do it daily. I also like the fact that he talks about kindness and that's not something you see with authors, influencers, content creators or self help carnival barkers.

 

[giuliettapaul]

Wealth, money, and status—interesting trio, right? To me, wealth is more than just the dollars in your bank account; it's about having an abundance of resources that enrich your life in various ways. Money, on the other hand, is simply a tool, a means to an end—it's what you use to acquire wealth but doesn't necessarily define it. And status? Well, that's the social currency, the perception others have of you based on your wealth, money, achievements, or influence. As for apps to play games that pay real money, I'm all ears for recommendations! What are your go-to games, and do they fall under the best app games to make money category? Always up for some fun if it comes with a side of pocket change.

 

[The Cat]

See the TURTLE of enormous girth!
On his shell he holds the Earth.
If you want to run and play
Come along the BEAM today.

See the Eagle's brilliant eye,
And wings on which he holds the sky!
He spies the land and spies the sea
And even spies a child like me.

See the TURTLE of enormous girth!
On his shell he holds the Earth,
His thought is slow but always kind;
He holds us all within his mind.

On his back the truth is carried,
And there are love and duty married.
He loves the earth and loves the sea,
And even loves a child like me.

See the BEAR of fearsome size
All the WORLD'S within his eyes!
Time grows thin, the past's a riddle;
The TOWER awaits you in the middle.

See the TURTLE, ain't he keen?
All things serve the fuckin' BEAM.


​

 

[The Cat]

Wealth, money, and status—interesting trio, right? To me, wealth is more than just the dollars in your bank account; it's about having an abundance of resources that enrich your life in various ways. Money, on the other hand, is simply a tool, a means to an end—it's what you use to acquire wealth but doesn't necessarily define it. And status?

Wealth, fame, power… Gold Roger, the King of the Pirates, attained this and everything else the world had to offer. And his dying words drove countless souls to the seas. "You want my treasure? You can have it! I left everything I gathered together in one place! Now you just have to find it!" These words lured men to the Grand Line in pursuit of dreams greater than they’ve ever dared to imagine! This is the time known as ‘The Great Pirate Era’!

 

[The Cat]

Man o manatee I can't wait to see what you have to say about status. A thing I often say about status is if you change your post to seed in an outside advertisement I'm gonna getcha.