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I don't think there's a real contradiction between the propositions: 1. The economy is not a zero-sum game. 2. The new gilded age concentrates wealth in a w
by marginalia_nu 5mo ago
I don't think there's a real contradiction between the propositions:
1. The economy is not a zero-sum game.
2. The new gilded age concentrates wealth in a way that is harmful to free enterprise, detrimental to the economy, and bad for the world.
- anon291 5mo agoIn what way is any of this wealth distribution harmful to free enterprise? The things actually harmful to free enterprise are not even on this chart.
- tossandthrow 5mo agoI would recommend you to just just read up on antitrust legislation and why we have it generally.
- anon291 5mo agoMonopoly may lead to wealth inequality but you're confusing causation with correlation. Witnessed wealth inequality does not necessarily signal large scale monopoly
- marginalia_nu 5mo agoThe wealth concentration is a symptom of a dysfunctional economy based around rent-seeking monopolies. If you address that, the wealth equality comes as a result thanks to the non-zero sum nature of the economy, as more people are able to operate businesses in a fair way. This is almost exactly the situation that resulted during the first gilded age with standard oil. Antitrust legislation works wonders if it has teeth. Currently it does not.
- anon291 5mo agoThe current richest man on the planet makes his money not from economic rent but from first mover advantage in the electric car market, first mover advantage in the private space market, and first mover advantage in the online payments market. What part of this seeks rent? It is exceptionally easy for Americans to fund and start businesses at this point
- Epa095 5mo agoSignificant wealth inequality is a existential threat to the 'free' part of both enterprises, and the society around them.
- noduerme 5mo agoI think there's a case to be made against generational wealth on the basis that it can suppress free enterprise by acting monopolistically, capturing a regulatory environment, and/or by draining liquidity from an economy. But that is clearly not the case being made by most of the people who harp on wealth inequality. Free enterprise would eventually lead to inequality all over again, so obviously that's gotta go too /s