Re:What happens when a culture is driven by the need for mon...
by JonFish85 on Wednesday November 11, 2015 @04:32PM
(#10549447)
That's not at all the argument I'm making, and probably isn't an argument made by anyone. Going from dirt-poor to richest-in-the-world is much harder than any other economic jump. My argument was simply that "the richest don't stay the richest" for very long. If you take $330bn and spend $1m a day (getting no interest on the principle) it would take 1,000 years to spend it all. You'd expect that the money would last the Rockefellers for centuries, but in fact it's pretty quickly been "returned" to the central money pot.
[ Parent
| on HN ]
Re:What happens when a culture is driven by the need for mon...
by crpatino on Wednesday November 11, 2015 @07:02PM
(#10550349)
If every tycoon has 2 or 3 heirs, chances are that unless one of them inherits the parent drive (and then goes to amass more wealth), the fortune will spread out. We all know how the exponential function works, it does not take that many generations to level off any finite amount of money.