Re:Privilege, Pathology and Power
by zepto on Friday January 01, 2016 @05:16PM
(#10823744)
Could be both. But in the case of trump, his wealth was inherited, so the argument goes in the direction Krugman states.
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which he increased by an order of magnitude.
It was gigantic to begin with, and he has performed about as well as an index fund over his period in business, avoiding bankruptcy only by fluke.
He goes from tens of millions is assets to billions. A fluke you say. If that was so easy we would have a lot more billionaires. Investment choices are always obvious after the fact.
I said the avoiding of bankruptcy was a fluke. And yes, it is certainly the case that if more people inherited $40 million when Trump did, we'd have many more billionaires today since a conservative investment strategy over the same period would have made them so.
https://www.quora.com/Did-Donald-Trump-inherit-a-lot-of-mone...