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That would be true if there were enough social mobility, and that's I think the American dream: that your wealth is directly related to your tenacity / hard wor
by chillacy 10y ago
That would be true if there were enough social mobility, and that's I think the American dream: that your wealth is directly related to your tenacity / hard work. Unfortunately that's not really the case, as money is hard to gain for those without opportunities and easy to keep for those born into it.
- adamnemecek 10y agoYou just need to fix the educational system.
- kevin_thibedeau 10y agoThen you end up with a lot of well educated janitors and tomato pickers. Not everyone can be upwardly mobile and become a millionaire with no one left to fill the void of low level poorly paid jobs needed to support them.
- adamnemecek 10y ago> Then you end up with a lot of well educated janitors and tomato pickers. So you are saying that instead of a fair competition, you would prefer that people's lives are defined by the conditions they were born into and educated in? Wut? > Not everyone can be upwardly mobile and become a millionaire with no one left to fill the void of low level poorly paid jobs needed to support them. You realize that those jobs are going away in somewhat near future right? Just like e.g. truck drivers?
- tptacek 10y agoNo, that's not what he's saying. Assume that through education you can randomize which people end up as the hedge fund managing directors and which people are the janitors. Still, there will be many janitors, and still, there will be very few hedge fund MDs.