3 ms·
> Not necessary. The economy isn't a zero-sum game. There is more wealth to go around now than in 1978. True, but it's been increasingly overvalued since the m
by M_Bakhtiari 8y ago
> Not necessary. The economy isn't a zero-sum game. There is more wealth to go around now than in 1978.
True, but it's been increasingly overvalued since the middle ages with the liberalisation of compound interest. That particular activity is zero sum and will concentrate wealth in one end until real wealth generation (farming, mining and refining of the results of the former two) becomes infeasible. Right now it's Venezuela, my bet is South Africa being next. Europe in our lifetime.
- airstrike 8y agoAfter reading your comment twice, I think you're somehow blaming the shitstorm that the Chavez / Maduro governments brought upon their own country on the liberalization of compound interest, but I can't fathom how you'd conclude that, so I'd love for you to correct my understanding of your comment.