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There is a difference between diverse outcomes in parallel and diverse outcomes in series. If you have a hundred people flip a coin 10 times, redistributing eac
by DuskStar 6y ago
There is a difference between diverse outcomes in parallel and diverse outcomes in series. If you have a hundred people flip a coin 10 times, redistributing each time - heads they get back triple, tails they lose everything - you'll end up with around 1000x what you started with. Whereas if you flip that same coin with reinvestment ten times, you'll almost certainly have nothing at the end - even though the average outcome is the same.
- throwawaygh 6y agoThe US has 50 states, and each of those states have counties, and each of those counties is further subdivided, and each of those subdivisions is again subdivided, and sometimes even once more. And each of those jurisdictions is full of people, some quite wealthy, who can make decisions with the wealth that they generate in their own lifetime. And even beyond their own lifetime, by donating generously to churches and hospitals and schools and universities and parks and so on. There's plenty of parallelism, and even plenty of ways to invest one's wealth in meaningful pursuits posthumously without passing it to your offspring. I don't see why third generation aristocrats are needed to achieve the diversity and parallelism you seek.