Warren Buffett made 99% of his
wealth since the age of 50. Our World in Data points out average incomes in
England were unchanged at around £1,000 in todays terms for the 400 years to
1650. The second part is significantly shorter, to over £30,000 today. Wealth compounds.
The personalities disappear. 10,000 plus years laid the groundwork – numbers,
words, the internet, travel, laws, shared stories and other bits of the machine
that lets us create. Social Capital outlives us all. The key is better
coordination and cooperation, with tools for risk control. A world with more
fire power, is also a world that needs restraint. When growth explodes, there
is value in thinking about the shift to a custodial mindset.
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