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> The problem with differentiating between the "good investor" and the "lavish lifestyle guy" is that the good investor is actually the one that you (rather, Pi
by nicholas73 12y ago
> The problem with differentiating between the "good investor" and the "lavish lifestyle guy" is that the good investor is actually the one that you (rather, Piketty) need to be most worried about.
Disagree. The good investor not only puts capital to work and creates wealth for others, he is also taking money out of the system. Since he is not consuming, the net effect of his increased capital hoard is to decrease prices across the board for everyone else. This can change once he decides to spend, but then he will pay consumption taxes like the others.
- vidarh 12y agoYou completely ignore the whole argument for why the "good investor" is dangerous: He accumulates, and by accumulating he enables far more substantial interference with the democratic process.
- nicholas73 12y agoI tend to think excessive consumption and mal-investment is worst for society. Also, the bar for bribing is not particularly high, so even the lavish spender could do damage that way. Lastly, a spender is probably more likely to do these kinds of political contributions.