The fallacy of composition.<p>If everyone made more money, everyone would be better off, right? Except in order for this to happen, everyone would need to charge more for their goods and services, so prices would rise and the raises everyone got would be sucked up by rising prices, leaving everyone in the same place as where they started, relatively.<p>The sad truth is that every economy must pick winners and losers. If everyone wins, no one wins.<p>Whether this selection process aligns with productivity determines the trajectory of nations. Productivity measures actual wealth creation, and hopefully politics does not lag too far behind it.