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Inequality Is Killing the American Dream
- pitaj 10y agoThe real problem, IMO, is not inequality. Inequality has always and will always exist. The real issue is a decrease in income mobility. When the poor stay poor and the rich stay rich, that's the real problem.
- maxerickson 10y agoPart of what the article is saying is that inequality and mobility interact. If each unit of economic growth creates fewer jobs (say because of automation), the productivity gets captured by a smaller number of people.
- kafkaesq 10y agoQuick rebuttal to both you and Paul Graham: "Okay, we get it -- it's both position and velocity. But when people talk about "income inequality", trust me, that's exactly what they're talking about -- both relative income and income mobility. In other words, they're not as dumb as you think - they're just simplifying. Go that? OK, good. Because we'd really really appreciate it if you'd at least begin to acknowledge the core issue at hand. Instead of just throwing your hands up the air and saying, in so many words, 'Yes, salary differentials kinda suck but hey, anyone can, in theory, apply for a software engineering job at Google or a YC startup -- so it's all good.'"