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Sure, but it feels like we're missing the forest for the trees. The big class distinction is owning assets for a living instead of working for a living. If you
by jjoonathan 3y ago
Sure, but it feels like we're missing the forest for the trees. The big class distinction is owning assets for a living instead of working for a living.
If you plug in a more precise definition of "assets" and "living" you can turn this into a net worth threshold, but the number itself is far less interesting than what happens to incentives and strategies as you go from working to owning. They completely change. Night and day. Noble and peasant.
This isn't a "capitalism is feudalism in disguise" rant -- it's great that the nobility don't own the monopoly on violence anymore and that's enormous progress, but the "rich people get paid for being rich" bit stuck with us and isn't going away any time soon.