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Is the goal financial security in retirement, or perfectly uniform stock market ownership distribution? Annuities suffer from similar problems but like, if the
by loeg 3y ago
Is the goal financial security in retirement, or perfectly uniform stock market ownership distribution? Annuities suffer from similar problems but like, if the retiree has sufficient income, at the end of the day, who cares if they personally own part of the stock market?
People see these power law distributions and are surprised? But like, do you actually want enforced uniform wealth (communism)?
- pfannkuchen 3y agoCommunism is more like “off the books” wealth in a lot of ways. In capitalism the people who control sections of the economy “own” them in the same way one owns a shoe. In communism people still control sections of the economy, it just isn’t shown on paper. They do extract personal benefit from that control, it’s just in the form of a weird and inefficient black market barter system.
- charred_patina 3y agoI think the issue is more that power laws distributions have a lot of negative externalities. Inequality is correlated with a lot of societal problems. > People see these power law distributions and are surprised? But like, do you actually want enforced uniform wealth (communism)? This is a really all-or-nothing take. A handful of people are arguing for enforced uniform wealth, most people are just pointing out that our current economic system is marginalizing a growing number of people each year, while enriching a handful of giga-wealthy individuals.