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Money is zero sum and it determines who owns the 'stuff'. Higher wages mean working-age generations are able to generate some wealth whereas until now only olde
by seydor 4y ago
Money is zero sum and it determines who owns the 'stuff'. Higher wages mean working-age generations are able to generate some wealth whereas until now only older generations could, as their assets continuously appreciated without losing value due to inflation.
I see the whole thing as intergenerational conflict. Pre-genX'ers went through a period of high inflation, which was also one of historically low inequality, followed by a period of very low inflation and very high inequality. This enabled them to accumulate and maintain vast wealth. Now post-genX'ers think it is their turn.
https://www.researchgate.net/profile/Yonatan-Berman/publication/301591761/figure/fig10/AS:362300671315981@1463390619907/Historical-economic-inequality-in-the-US-The-Wealth-blue-and-labor-income-orange.png https://www.researchgate.net/profile/Yonatan-Berman/publicat...
- sdwr 4y agoTotally agree, love the perspective. But while money is zero-sum, velocity of money is not. It takes trust to spend on investments or services. Less "stuff" happening means everyone loses.
- gilbetron 4y agoI like your analysis, but I love how it leaves GenXers out of the picture. Typical.
- seydor 4y agothey never had any hope