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This paper seems based on the premise that inequality is bad, which is completely false. Inequality is absolutely necessary so that resources go to where they a

This paper seems based on the premise that inequality is bad, which is completely false. Inequality is absolutely necessary so that resources go to where they are used most effectively. This maximizes overall wealth/value creation, which is better for everyone, even if it is unequally shared. USA has highest median income in the world by a large margin for this very reason.

pbhjpbhj 1y ago
I mean, little could be clearly less true - people spend billions on advertising because they want to brainwash people into seeing their product as necessary/useful when it isn't. If you want to target resources, kill advertising is probably number 1. Second, you think we need more "CEO yachts"? That's where the resources are going more and more. IIRC billionaires in UK are 5 times richer since Covid. We have many little with poor housing and food situations. Western Capitalism directs resources to the wealthy, often those who gained wealth through past feudalism or [other?] crime.
- loxodrome 1y ago
  Look at this table https://en.m.wikipedia.org/wiki/Disposable_household_and_per_capita_income https://en.m.wikipedia.org/wiki/Disposable_household_and_per... The USA has the highest median disposable income (purchasing power) per household. How could you possibly believe that capitalism is making Americans and other capitalist countries worse off? There’s a reason practically everyone wants to move to those places!
  - pbhjpbhj 1y ago
    We're talking about wealth distribution within countries.
    - loxodrome 1y ago
      Median disposable income is a key statistic describing the distribution of wealth… half the population makes more and half makes less, so it tells you the central tendency, that is, how the middle class is doing.
int_19h 1y ago
> Inequality is absolutely necessary so that resources go to where they are used most effectively. Like launching a Tesla into space for the lulz?

pbhjpbhj 1y ago

I mean, little could be clearly less true - people spend billions on advertising because they want to brainwash people into seeing their product as necessary/useful when it isn't. If you want to target resources, kill advertising is probably number 1. Second, you think we need more "CEO yachts"? That's where the resources are going more and more. IIRC billionaires in UK are 5 times richer since Covid. We have many little with poor housing and food situations. Western Capitalism directs resources to the wealthy, often those who gained wealth through past feudalism or [other?] crime.

loxodrome 1y ago
Look at this table https://en.m.wikipedia.org/wiki/Disposable_household_and_per_capita_income https://en.m.wikipedia.org/wiki/Disposable_household_and_per... The USA has the highest median disposable income (purchasing power) per household. How could you possibly believe that capitalism is making Americans and other capitalist countries worse off? There’s a reason practically everyone wants to move to those places!
- pbhjpbhj 1y ago
  We're talking about wealth distribution within countries.
  - loxodrome 1y ago
    Median disposable income is a key statistic describing the distribution of wealth… half the population makes more and half makes less, so it tells you the central tendency, that is, how the middle class is doing.

int_19h 1y ago

> Inequality is absolutely necessary so that resources go to where they are used most effectively. Like launching a Tesla into space for the lulz?