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I'd agree income inequality is a problem, but I think what is specifically bothering people is that they feel they don't have the opportunity to make more. Once

by gpsx 7y ago

I'd agree income inequality is a problem, but I think what is specifically bothering people is that they feel they don't have the opportunity to make more. Once someone has money they can use it to help themselves and "hold down" others. (I put that in quotes because it might be a little exageration, but I think people feel that way.) There are many examples but a the most basic one in the US is that the outcome of a trial is highly correlated with the amount of money you spend on lawyers. A problem with Khanna and the article is that he is just continuing to give outsize influence to the rich. I hope he can learn something from Sanders and not worry too much about "alienate(ing) some of his wealthiest backers".

Frost1x 7y ago
"Once someone has money they can use it to help themselves and "hold down" others." They can and do, it's part of daily business strategy. Sometimes those efforts are shared if the company is publicly held, even then, the majority of the returns snowball to the large shareholders. A retired good friend of mine from the chemical industry worked at one of the leading chemical businesses. Part of their entire business strategy/model was collecting strategic patents in chemical processes to prevent others from competing and forcing them to pay royalties to that company. He worked there for several decades leading one of their core research divisions and they shut down most their research divisions because the patent game gave more ROI than actually producing innovative new processes. That specific business now primarily focuses on acquiring IP as blockades and tolls to innovators entering the industry. That's just one example but I see many businesses use as many anticompetitive strategies as they can get by with. In the tech industry, often potential competitors are simply bought out early before they become competitors either through offers or hiring their talented staff. Pick a business and they've probably engaged in similar activities. People are not delusional with this assessment, it's spot on.

by gpsx 7y ago

Frost1x 7y ago

"Once someone has money they can use it to help themselves and "hold down" others." They can and do, it's part of daily business strategy. Sometimes those efforts are shared if the company is publicly held, even then, the majority of the returns snowball to the large shareholders. A retired good friend of mine from the chemical industry worked at one of the leading chemical businesses. Part of their entire business strategy/model was collecting strategic patents in chemical processes to prevent others from competing and forcing them to pay royalties to that company. He worked there for several decades leading one of their core research divisions and they shut down most their research divisions because the patent game gave more ROI than actually producing innovative new processes. That specific business now primarily focuses on acquiring IP as blockades and tolls to innovators entering the industry. That's just one example but I see many businesses use as many anticompetitive strategies as they can get by with. In the tech industry, often potential competitors are simply bought out early before they become competitors either through offers or hiring their talented staff. Pick a business and they've probably engaged in similar activities. People are not delusional with this assessment, it's spot on.