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Except in the US you can just turn on the Kardashians. New money in the US is not at all hidden and flaunted just as it is everywhere else. The difference betw
by pembrook 9y ago
Except in the US you can just turn on the Kardashians. New money in the US is not at all hidden and flaunted just as it is everywhere else.
The difference between wealth in frontier/emerging market economies like Iran and developed market economies like the US is corruption.
If you see someone driving a Lamborghini in Tehran, it’s fairly safe to assume acquiring that car involved a level of government corruption. If you see someone driving a Lamborghini in any US city, it’s fairly safe to assume that person acquired the wealth to purchase that car through lawful free market activity.
Is there corruption in the US? Of course. But it pales in comparison to what you find in developing economies.
- ethbro 9y agoI'd argue that new money (e.g. Kardashian, <$250 million in the immediate family) is a drop in the bucket compared to real American, old money wealth. E.g. the kind where your son being set up to run for President in 20 years is negotiated at a private golf club while ensuring the references are lined up for his children to get into the right schools