3 ms·
Author here (late to the show). I think, there are two things to be learned from this: a) Inequality is not just the fault of some actors, who are either ingen
by masswerk 4y ago
Author here (late to the show). I think, there are two things to be learned from this:
a) Inequality is not just the fault of some actors, who are either ingenious/proficient/hard-working/greedy or incompetent/insufficient/lazy, but a natural byproduct of interaction.
b) We should be careful when attributing economic success to merit, since this may be just a tautological assertion of inherent random processes, even in a model as simple as this.
Now imagine, what will happen, if we add systematic biases of all kind, the costs (and profits) of debt being another of these factors. What this may mean in terms of politics and if there arises any kind of obligation for the society that enables and necessitates these interactions is left to the beholder.