Wealth

Summary

Mag Wealth In the human world, wealth inequality arguably has more of an impact on lives and relationships than physical differences like distance and energy. We need to have meaningful discussions about structural class differences, and segmenting the population based on wealth is an obvious starting point. Wealth, like most quantities, doesn’t need precision beyond the exponent to expose some sharp differences between wealth classes, and sharp similarities within a wealth class. It’s not useful to compare relative wealth within a wealth level, except perhaps to say “lower” (at risk of falling to a lower level) or “upper” (the next level higher is within reach). For wealth specifically, using any further precision easily leads to direct wealth comparisons between members of the same level, which then leads to jealousy and discontent, rather than insight into the core issue. General scale For the quantitative treatment, we need to anchor the scale, but using exact values is not possible due to inflation. On a mag scale, inflation happens pretty slowly (↑1.5 from 1900-2025 in the US–about 30x), but this consistent drift can’t be ignored, even in Mag World. This scale is calibrated on US dollars in the early 1980s; this aligns with some basic cultural expectations around wealth. For instance, that a dollar can still buy something useful, and that a “millionaire” is considered wealthy. To translate 2024 US dollars into mag wealth, divide by 3 (or ↑0.5). All dollar values are given in 2024 US dollars for convenience. Wealth Levels These wealth levels have existed throughout human history, even though the unit of currency changes. ↑-1 Wealth: Destitute (less than $3) At the bottom-most level, a person can’t even scrape together a few bucks for some food. Societal services aren’t accessible unless they are completely free. Finding a toilet and shower may be difficult. They have no possessions; their shoes and coat are probably decrepit and dirty. ↑0 Wealth: Broke ($3-$30)...