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I think it’s a natural property of the interaction between capital and technology. Let’s say in a hypothetical society, the richest person has 10 capital and t
by mikrl 2y ago
I think it’s a natural property of the interaction between capital and technology.
Let’s say in a hypothetical society, the richest person has 10 capital and the poorest have 0. The gap between richest and poorest is 10 capital, and we can assume some nonlinear distribution of population between the extreme.
Let’s say technology 10xes your capital. Now the rich person is 100 capitals ahead of the bottom and the population wealth curve has been stretched.
Let’s say technology e^xes your capital, now your wealth curve is even more complicated and the rich person (after successive iterations of technology) is far ahead.