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A weighted average can be very different from the unweighted average. In our current society, children can benefit from the wealth and social connections of th
by jltsiren 2y ago
A weighted average can be very different from the unweighted average.
In our current society, children can benefit from the wealth and social connections of their parents. That gives the needs of some people additional weight in the market without any actual merit. To get rid of that market distortion, children would have to be raised collectively without any contact to their parents.
There is a lot of wealth that has been created with business practices that later became illegal. Because we prefer not to punish people for actions that were legal at the time, we let people keep that wealth. But if we want the market to prioritize the needs of the current society, such wealth would have to be confiscated.
A society where the market actually reflects the needs of the society would be incredibly dystopian.