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Done now with Pikkety. Well, he summarizes it very simplified. I think his model doesn't necessarily mean that the person who was rich 10 years ago is richer no
by erikb 10y ago
Done now with Pikkety. Well, he summarizes it very simplified. I think his model doesn't necessarily mean that the person who was rich 10 years ago is richer now. It still works out if for example each year a start-up of the same size has a 5% bigger exit than the year before, but 10 years later the founder of the first exist is broke and homeless already. What I mean is it doesn't, afaik, consider fluctuation in each group. Also many economists criticise that money is only measurment of wealth, and some are quite hard to represent in $.