Re:Income Inequality (2016)
by skookumchuck on Monday March 05, 2018 @04:35PM
(#16524659)
> So gambling is your solution?
Gambling has a mathematical downward bias. Investing has a mathematical upward bias. (That's my definition of the difference.)
I find it rather unfair to argue that wealthy people make money off of investments, but that non-wealthy people shouldn't invest because positive returns are not guaranteed. Well, they aren't guaranteed for wealthy people, either, but they invest anyway.
Gambling has a mathematical downward bias. Investing has a mathematical upward bias. (That's my definition of the difference.)
I find it rather unfair to argue that wealthy people make money off of investments, but that non-wealthy people shouldn't invest because positive returns are not guaranteed. Well, they aren't guaranteed for wealthy people, either, but they invest anyway.