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The allocation of money is about the same as the allocation of the economy's output. Someone's getting more out of it than others. If "him" disappearing from th
by tormeh 12y ago
The allocation of money is about the same as the allocation of the economy's output. Someone's getting more out of it than others. If "him" disappearing from the economy would damage the economy more in dollars than he earns, then he's not taking your money. Otherwise he is. My guess is that the filthy rich add orders of magnitude less to the economy than they take out. Warren Buffet and Steve Jobs are probably exceptions, but I don't complain about them. Most CEOs are probably fine. It's inheritors that are the real problem.
- mason240 12y agoThis view seems to come from the mindset that the output of the economy is static and that there is a fixed amount of wealth.
- ufo 12y agoThe issue here is that wealth inequality is so massive that it ends up being a net negative even if the economy as a whole is growing. What we are seeing nowadays is stagnant income for the middle class and skyrocketing wealth (and power) for the fortunate 0.1%
- icebraining 12y agoAnd massive increases in the income of billions of workers worldwide - just not in a few developed countries.
- tormeh 12y agoI explicitly discussed the problem with a variable total economic output. Explicitly. RTFC.