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clarkmoody, You seem to miss the point that this is a zero sum game, you only have 100% of the pie to go around. If the top 1% take more of it, it means the ot
by fewy 13y ago
clarkmoody,
You seem to miss the point that this is a zero sum game, you only have 100% of the pie to go around. If the top 1% take more of it, it means the other 99% get less. So it does in fact matter how much the top earners make because it will lower the median income if they take more money.
http://en.wikipedia.org/wiki/Household_income_in_the_United_States http://en.wikipedia.org/wiki/Household_income_in_the_United_...
- baddox 13y agoIt's clearly not a zero sum game.
- ohazi 13y agoNo, it isn't. Rent seeking is a zero sum game, but the productivity gains over the last 40 years have increased the size of the pie.
- fewy 13y agoThe pie we are looking at is in percent, the article stated that the top 1% took a bigger share of it than before. This means they took a bigger share of your productivity gains. But why argue about such things, it would be easier if you can show me a mathematical example where the top 1% take a bigger percentage of the pie yet the median increases. Let me know if you like the results you come up with.