The only point of buying one now is to advertise that you can. But Balzac lived in nineteenth-century France, where the Industrial Revolution was well advanced. It may seem unlikely in principle that one individual could really generate so much more wealth than another. Since the invention of the quartz movement, an ordinary Timex is more accurate than a Patek Philippe costing hundreds of thousands of dollars. In a society of serfs and warlords, certainly, variation in income is a sign of an underlying problem.
Look at the information about films at the local cinema. In reality, wealth is measured by what one delivers, not how much effort it costs. In England in the s, when William the Conqueror distributed the estates of the defeated Anglo-Saxon nobles to his followers, the conflict was military. A hundred years ago, the rich led a different kind of life from ordinary people. So we should expect to see ever-increasing variation in individual productivity as time goes on. If you mean worth in the sense of what people will pay for their skills, the answer is yes, apparently. When we say that one kind of work is overpaid and another underpaid, what are we really saying? As this example suggests, the rate at which technology increases our productive capacity is probably polynomial, rather than linear. If you wanted more wealth, you could make it. This started to change in Europe with the rise of the middle class. You can see wealth—in buildings and streets, in the clothes and the health of the people. Instructions Watch the video of two students doing an information exchange activity. When you travel to a rich or poor country, you don't have to look at people's bank accounts to tell which kind you're in. The only thing technology can't cheapen is brand. This was easier to grasp when most people lived on farms, and made many of the things they wanted with their own hands. England in , on. His skills are simply much more valuable. But there is not much point. Everyone would be wearing the same clothes, have the same kind of office or rather, cubicle with the same furnishings, and address one another by their first names instead of by honorifics. Now, thanks to technology, the rich live more like the average person. In port cities like Genoa and Pisa, they also engaged in piracy. The great fortunes of that time still derived more from what we would now call corruption than from commerce. In a society of serfs and warlords, certainly, variation in income is a sign of an underlying problem. The middle class were a new, third group who lived in towns and supported themselves by manufacturing and trade. Northern Italy in , on.
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