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If it makes you feel any better, the rich are about to get a whole lot richer.
by techpineapple 2y ago
If it makes you feel any better, the rich are about to get a whole lot richer.
- justanotheratom 2y ago[flagged]
- kristjansson 2y agoDid something happen in 2020? Something big??
- justanotheratom 2y agoin 2020, yes something bad happened, which negatively affected Trump's numbers. Read the report in the link.
- kristjansson 2y agoyes effects of big exogenous shocks are famously limited to exactly presidential term boundaries.
- justanotheratom 2y agoeffects of excuses are thankfully limited to presidential term.
- techpineapple 2y agoWoah, great gotcha! Did you really come to Hacker News to denegarte people you thought didn’t have a basic understanding of Economics? Right now I have a problem with both. Maybe deregulating the SEC helps poor people? I don’t hear anyone making that argument right now though.
- justanotheratom 2y agoSincerely, I think there is too much emphasis on "rich people bad", the assumption being it is a zero-sum game. Instead, we should simply focus on making this more and more true: "provide value to the world -> get rich."
- techpineapple 2y agoI’m ok with that general idea. I’d like to see a lot more people worth 10-100 million, and less people worth 10-100billion, and I think there’s too much wealth being generated from financial games, and not enough from creating valuable goods and services, thus my particular concern about Musk going into the SEC.
- immibis 2y agoThe rich don't get richer by sitting in their labs and tinkering until they invent something that nobody had before. That's so last two centuries. The way they get rich now is by making us pay more for the same stuff we already had.
- justanotheratom 2y agoUm, my Tesla today is cheaper than an Acura I bought 20 years ago. Tech has been deflationary. And overall, quality of life and life expectancy has improved over time under Capitalism. Sure, if someone has a moat, they will try to maximize their profit. Assuming fair competition though, I would expect a competitor to emerge.
- deleted 2y ago[deleted]