This makes economic sense though! Having relatively more than others is more meaningful to purchasing power. People care about money only to the extent it is useful. Absolute monetary values are meaningless without context.
Comments
Log in with your Bluesky account to leave a comment
the classic papers try to account for purchasing power parity, so those with 100K in the 250K world can actually buy more stuff than those with 50K in the 25K world.
One relevant aspect is that the participants in these games play for real financial stakes, which are converted into American dollars that can be spent in the same economy.
Comments
When the median income is 25,000, those earning 50,000 are wealthy.
When the median income is 200,000, those earning 100,000 are poor.
It’s not just a feeling. It’s an economic reality.
This misunderstands how money works. There’s no such thing as absolute poverty or absolute wealth.
The value of money is always relative, and depends on supply & demand.
“In the land of the blind, the one-eyed man is king.”
In the real world people’s choices set prices.