4 ms·

We can all have good things right now, including climate remediation if there weren't an extreme concentration of wealth.Trickle down is proven bogus. Wealth is

by k310 3y ago

We can all have good things right now, including climate remediation if there weren't an extreme concentration of wealth.Trickle down is proven bogus. Wealth is hoarded and locked up to a great extent . Take a comfortable and consumable share, Marc and others. The rest is merely symbolic.

fastball 3y ago
I agree that trickle-down economics is mostly nonsense. But how exactly would redistributing Marc Andreessen's wealth fix climate issues? Please be specific.
- qaq 3y ago
  Well you can obviously convert shares of some SaaS company into extra raw resources thats a very simple physical process without any limitations.
6510 3y ago
Drivel down economics.
- k310 3y ago
  It's not just your opinion. https://www.businessinsider.com/how-bad-is-inequality-trickle-down-economics-thomas-piketty-economists-2021-12?op=1 https://www.businessinsider.com/how-bad-is-inequality-trickl... A huge study of 20 years of global wealth demolishes the myth of 'trickle-down' and shows the rich are taking most of the gains for themselves (2021) https://money.cnn.com/2015/06/15/news/economy/trickle-down-theory-wrong-imf/index.html https://money.cnn.com/2015/06/15/news/economy/trickle-down-t... The 'trickle down theory' is dead wrong (2015)
sharts 3y ago
Recently read a statistic that stated if everyone on earth were able to live like an average American, we would require five entire earths in terms of resources to make that happen.
qaq 3y ago
Wealth is poor proxy to real world resources. Especially for most tech billionaires there are very few real world resources hoarded. Owning shares in some highly valued SaaS company pretty much consumes negligible amount of none virtual resources. Even if a tiny fraction of "concentrated wealth" were to be spent for physical assets we'd just see a hyperinflation spiral.
ttoinou 3y ago
Whats bogus is the strawman of talking about trickle down. There is no such thing as "fair", people will take what they can according to market forces
- dreamlessfate 3y ago
  >There is no such thing as "fair", people will take what they can according to market forces By that same logic, there is no such thing as "justice" and the entire legal system is a mirage? :)

by k310 3y ago

fastball 3y ago

I agree that trickle-down economics is mostly nonsense. But how exactly would redistributing Marc Andreessen's wealth fix climate issues? Please be specific.

qaq 3y ago
Well you can obviously convert shares of some SaaS company into extra raw resources thats a very simple physical process without any limitations.

6510 3y ago

Drivel down economics.

k310 3y ago
It's not just your opinion. https://www.businessinsider.com/how-bad-is-inequality-trickle-down-economics-thomas-piketty-economists-2021-12?op=1 https://www.businessinsider.com/how-bad-is-inequality-trickl... A huge study of 20 years of global wealth demolishes the myth of 'trickle-down' and shows the rich are taking most of the gains for themselves (2021) https://money.cnn.com/2015/06/15/news/economy/trickle-down-theory-wrong-imf/index.html https://money.cnn.com/2015/06/15/news/economy/trickle-down-t... The 'trickle down theory' is dead wrong (2015)

sharts 3y ago

Recently read a statistic that stated if everyone on earth were able to live like an average American, we would require five entire earths in terms of resources to make that happen.

qaq 3y ago

Wealth is poor proxy to real world resources. Especially for most tech billionaires there are very few real world resources hoarded. Owning shares in some highly valued SaaS company pretty much consumes negligible amount of none virtual resources. Even if a tiny fraction of "concentrated wealth" were to be spent for physical assets we'd just see a hyperinflation spiral.

ttoinou 3y ago

Whats bogus is the strawman of talking about trickle down. There is no such thing as "fair", people will take what they can according to market forces

dreamlessfate 3y ago
>There is no such thing as "fair", people will take what they can according to market forces By that same logic, there is no such thing as "justice" and the entire legal system is a mirage? :)