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Nonsense. It doesn't have to be a perfect model to still be a useful one. It's precisely because it's so unintuitive that it's interesting. Your introduction of

Nonsense. It doesn't have to be a perfect model to still be a useful one. It's precisely because it's so unintuitive that it's interesting. Your introduction of a positive sum mechanic doesn't invalidate the model. Introducing a $new_value component still begs questions around who gets access to that value - and if the yard sale model holds, even perfectly equal distribution of that $new_value suffers from exponential outcome drift for anything except ridiculously high ratios of $new:$old - and in the real world, value is disproportionately captured by the already wealthy [0]. But hey, internet for you lazy proles, pull yourselves up by your shoelaces etc. [0] - https://wir2022.wid.world https://wir2022.wid.world -- The richest 1% captured 38% of all new wealth since '95, the bottom 50% captured 2%.

chii 4y ago
> value is disproportionately captured by the already wealthy value is generated using both capital from the already rich, and labour from the poor. Over time, labour isn't increasing in productivity. It's capital that's increasing productivity, such as by improving labour's efficiency. With this in mind, why is it that the rich shouldnt be the ones to capture the new/increased productivity? After all, it is their investment that would make such productivity possible. If you had told the rich that their investments would not actually gain them profit (because labour captured the increases that produces the profit), they would not have invested in the first place. One way to break out of this cycle is for labour to provide something more than unskilled labour and merely using capital to produce goods/services. For example, research and development, knowledge/skill from education, etc.
- berniedurfee 4y ago
  Labor, both unskilled and skilled, drives all economic growth. Ideas have no value until labor creates the tangible embodiments of those ideas. That laborers, both skilled and unskilled, tend to be fungible, is the reason that they typically have no individual leverage to earn their fair share of the value created by their efforts. Laborers end up having to unionize to gain the leverage to claw some additional fraction of the true value of their efforts. The value distribution pyramid is upside down. Ideas have no value until laborers produce a sellable product. Management ought to be far more grateful and gracious to those who labor day after day to produce the goods we want and need.

chii 4y ago

> value is disproportionately captured by the already wealthy value is generated using both capital from the already rich, and labour from the poor. Over time, labour isn't increasing in productivity. It's capital that's increasing productivity, such as by improving labour's efficiency. With this in mind, why is it that the rich shouldnt be the ones to capture the new/increased productivity? After all, it is their investment that would make such productivity possible. If you had told the rich that their investments would not actually gain them profit (because labour captured the increases that produces the profit), they would not have invested in the first place. One way to break out of this cycle is for labour to provide something more than unskilled labour and merely using capital to produce goods/services. For example, research and development, knowledge/skill from education, etc.

berniedurfee 4y ago
Labor, both unskilled and skilled, drives all economic growth. Ideas have no value until labor creates the tangible embodiments of those ideas. That laborers, both skilled and unskilled, tend to be fungible, is the reason that they typically have no individual leverage to earn their fair share of the value created by their efforts. Laborers end up having to unionize to gain the leverage to claw some additional fraction of the true value of their efforts. The value distribution pyramid is upside down. Ideas have no value until laborers produce a sellable product. Management ought to be far more grateful and gracious to those who labor day after day to produce the goods we want and need.