Anti-Capitalist Sentiment (with some morality)

[Renton]

I don't agree with that at all. I think its demonstrable that money now is worth more than money later, and that the comparison is the most sharp when you don't have much of it on hand. Rich and upper middle class people invest money because the marginal value of money is much-decreased for them. Basically, people with more wealth are able to ascribe greater value to long term financial security, retirement, etc, than poorer people, who simply do not have the privilege of thinking that far ahead.

[a500lbgorilla]

I don't agree with that at all. I think its demonstrable that money now is worth more than money later, and that the comparison is the most sharp when you don't have much of it on hand. Rich and upper middle class people invest money because the marginal value of money is much-decreased for them. Basically, people with more wealth are able to ascribe greater value to long term financial security, retirement, etc, than poorer people, who simply do not have the privilege of thinking that far ahead.

I invest money because I want to be able to retire. So some of my money now is not worth more to me than more money later. So this explanation is not true.

edit Read your post wrong. I guess I got spun around by "money now is worth more than money later."

[rong]

I don't agree with that at all. I think its demonstrable that money now is worth more than money later, and that the comparison is the most sharp when you don't have much of it on hand. Rich and upper middle class people invest money because the marginal value of money is much-decreased for them. Basically, people with more wealth are able to ascribe greater value to long term financial security, retirement, etc, than poorer people, who simply do not have the privilege of thinking that far ahead.

This. Very much this. Investments are a luxury the poor typically can't afford. And another £50 a week when you are on min wage goes a long way. That's not to say poorer people wouldn't save any of an extra £50, but it would always need to be instantly accessible. It's not saving for retirement, it's saving for an unexpected car break down or broken washing machine.