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Well there is sufficient evidence that the pie is not getting bigger for everyone (see e.g. Thomas Piketty's research amongst others). Inequality is increasing
by cycomanic 6y ago
Well there is sufficient evidence that the pie is not getting bigger for everyone (see e.g. Thomas Piketty's research amongst others). Inequality is increasing and that is dangerous to society. To give you another example, in the 1920s 1930s economists (Keynes amongst others) made projects that by 2020 we would only work 15h a week or less and there was discussion if this would become a problem for society (because people typically want to work). However, this did not happen, why? Because the benefits of improved efficiency etc. flowed to fewer and fewer people.
Regarding the winners being undeserved:
1. It can be shown that just using chance (or slightly unequal starting conditions) simple economic systems develop into a state where there is one player who essentially owns all (I linked to the article earlier [1]). So yes it can be just chance.
2. Once the winners have sufficient power they will game the system in their favour. There's lots of evidence for this, just look at the Panama papers for example.
[1] https://news.ycombinator.com/item?id=21465446 https://news.ycombinator.com/item?id=21465446
- TedDoesntTalk 6y ago> only work 15h a week or less and there was discussion if this would become a problem for society (because people typically want to work). However, this did not happen, why? Because the benefits of improved efficiency etc. flowed to fewer and fewer people. That’s one possibility, the other is that productivity has no bounds and increased efficiency just means further productivity, not a lessening of work to achieve the same productivity as before.