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Insanely Concentrated Wealth Is Strangling Our Prosperity
- prostoalex 9y agoThis article makes a rookie mistake of conflating wealth with current income. There are times when certain assets - like land, real estate, tulips or equities - are over-valued, so people who own a lot of land, real estate, tulips or equities are over-valued. If Satoshi Nakamoto and Jeff Bezos visited a town for a few days, that town would experience extreme wealth inequality the day the duo arrived and revert to a rather normal-looking graph the day Nakamoto and Bezos left. Looking at the data, the residents of that town had been subject to the cruelest wealth inequality in the history of the Universe, but looking at the town, nothing really changed week in and week out.