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I'm having a tough time wrapping my head around a) what this means, and b) what it implies about the world economy. Naively, it sounds really bad because how c
by javajosh 11y ago
I'm having a tough time wrapping my head around a) what this means, and b) what it implies about the world economy.
Naively, it sounds really bad because how could any individual produce more than tens or hundreds of millions of individuals? If they do not produce more than nations, then how is it fair that they have so much? Another intuition is that this is the product of technology being adopted much more rapidly by the titans of industry than by others, to great effect decreasing cost and increasing profit.
- autokad 11y agosee my comment above, they are comparing net worth which is meaningless in most ways. while it sounds like the richest 30 or so people have more money than the entire world, they couldn't even pull their money and buy Calcutta.