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Yeah, if you average the rich and poor together, they're getting richer! But the poor are still getting poorer. Averages hide disparities. We've been over this!
by jjoonathan 6y ago
Yeah, if you average the rich and poor together, they're getting richer! But the poor are still getting poorer. Averages hide disparities. We've been over this!
Tangent 1: Placeholder: I don't agree that consumption metrics are better.
Tangent 2: Rich people do consume (colloquially speaking) proportionally to their increased wealth, but after sating their material desires they turn to financial assets: dibs on passive income and future growth. More for them does mean less for everyone else. Both in the first-order sense of owning more shares and in the second-order sense of being on the winning side of prevailing trends in globalization, automation, tax law, and corruption.