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I agree that maybe allowing market downturns to occur is probably a good thing. That said, an equally reasonable interpretation of your observation is that may
by creato 5y ago
I agree that maybe allowing market downturns to occur is probably a good thing.
That said, an equally reasonable interpretation of your observation is that maybe inequality is not itself a problem. More inequality doesn't necessarily mean that the poor are worse off than they would be with less inequality.
I wonder if we are collectively making a mistake to treat stock ownership as wealth. Stock prices going down reduces wealth inequality, but does that actually help anyone?
- whimsicalism 5y agoRegardless of what you treat it is, inequality of ownership of the major enterprises in the US is worth addressing. I do think the US needs substantial reform of how ownership and corporate governance currently works in our system.
- lend000 5y agoThe problem is that people who became temporarily wealthy but would have lost wealth through misallocation of capital are allowed to keep their wealth and repeat their misallocations instead of allowing new, potentially better capital allocators access to large opportunity (low asset prices).