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+1, and if some of that discretionary income is saved, he can lease it out for rent (make loans). This trend can continue for generations until the snowball eff
by mangeletti 11y ago
+1, and if some of that discretionary income is saved, he can lease it out for rent (make loans). This trend can continue for generations until the snowball effect is such that majority of the world's wealth has been accumulated by about .001% of the population; but then, people will start talking about things like transfer payments[1] and basic income, etc.
1. https://en.wikipedia.org/wiki/Transfer_payment https://en.wikipedia.org/wiki/Transfer_payment
- pdeuchler 11y agoI get what you're saying, but you are also ignoring my point about bolstering the middle class. A large and healthy middle class not only precludes unhealthy amounts of poverty (please keep in mind there will always be a "bottom 16%" [aka falling below < -1σ] no matter the level of wealth) but also precludes large concentrations of wealth by the upper class. EDIT: replied before you finished your edit, I see we're actually in agreement. Carry on...