What Paul Graham Is Missing About Inequality

Re:What Paul Graham Is Missing About Inequality – Tim O'Reilly by bobby_9x on Monday January 25, 2016 @06:45PM (#10970908)

The poor are moving up, the middle class are moving toward the poor (they will meet at some point), and the rich continue to get richer in the process.

So yes, inequality is technically decreasing between the poor and middle class, but the end result will be the middle class being non-existent.

It might be better for someone from a poor country, but not that good for someone from the US.

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Re:What Paul Graham Is Missing About Inequality – Tim O'Reilly by UK-AL on Monday January 25, 2016 @07:22PM (#10971081)

I don't believe that it is the divine right of the middle class of one country to live better lives than other people, simply because of location.

Besides, globalisation will overall increase the total wealth of the poor + middleclass combined.

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Re:What Paul Graham Is Missing About Inequality – Tim O'Reilly by bobby_9x on Monday January 25, 2016 @10:35PM (#10971679)

"Besides, globalisation will overall increase the total wealth of the poor + middleclass combined."

It won't really increase the overall wealth of the middle class. It will pull wealth away from the middle class to pay the poor at a cheaper rate. This is what's happening right now and why people in the tech industry are so upset by it. It's a form of global wealth redistribution.

I also don't think the middle class has any divine right. They just need to start preparing for job loss and overseas competition.

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Re:What Paul Graham Is Missing About Inequality – Tim O'Reilly by UK-AL on Tuesday January 26, 2016 @05:42AM (#10972753)

Trade has ability to create wealth. If we increase global trade, it will also increase the total wealth available to the poor + middle class. Some portion of the surplus value will also go to rich providing the capital.

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