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Re:Peter Norvig's Economic Simulation (2018) by sideshowb on Saturday February 22, 2020 @05:32AM (#22390294)
But it's compounding. Exponential. 5 percent each year means doubling every 15 years.

I'm in favour of more redistribution but I think you're barking up the wrong tree.

Long term growth forecasts trail off to more like 1 percent as we hopefully stop unsustainable use of finite resources. Doubling is much slower then.

Re:Peter Norvig's Economic Simulation (2018) by notahacker on Saturday February 22, 2020 @06:01AM (#22390387)
Growth over a period of time isn't even strictly necessary for all trades to be positive sum anyway. A village economy where the basket maker trades the same number of baskets for the same amount of food every year may have a zero growth rate [assuming the baskets' lifespan is limited], but those trades are positive sum because the basket maker and the farmers using broken baskets would both be worse off if those trades didn't continue to take place.
Re:Peter Norvig's Economic Simulation (2018) by kebman on Saturday February 22, 2020 @11:00AM (#22391620)
Redistribution, by whose power? Who has the right to decide what gets redistributed, and why? Is there a way to redistribute that is objectively fair?
Re:Peter Norvig's Economic Simulation (2018) by sideshowb on Saturday February 22, 2020 @11:17AM (#22391729)
That's a good question. The veil of ignorance concept espoused by Kant, Hobbes, Rawls among others is a good place to start imo.
Re:Peter Norvig's Economic Simulation (2018) by BlueTemplar on Saturday February 22, 2020 @11:14AM (#22391703)
The State endowed with its power by the citizens. What would be "objectively fair" ?
Re:Peter Norvig's Economic Simulation (2018) by fizixer on Saturday February 22, 2020 @06:14AM (#22390433)
I'm not sure if you considered fully what I said.

Are you telling me that capital powerhouses aiming for 8-20% year over year, and consistently having it their way, in an economy of best case 4-6% with instances of 2%, 0%, and negative mixed in, and a population consistently growing by 1-3%, still leaves the rest of the population with growth?

Can I sell you a bridge?

Re:Peter Norvig's Economic Simulation (2018) by simonh on Saturday February 22, 2020 @07:58AM (#22390758)
You’re assuming the 4-6% growth is a given, and were all just fighting over our bit of it, but this is _completely_ backwards.

Where did that 4-6% growth come from? Did it rain down from heaven and were all scrabbling for our share of it? No, it came from positive sum trades where value was added. An enterprise that develops a new technology, that makes an economic activity dramatically more efficient might sell that and become very successful. It might achieve 20% growth in its industrial sector and also boost the growth of its customers due to their better technology or more efficient services.

It’s _this_ sort of activity that much of that 4-6% overall growth is coming from. It’s not draining away growth from others, it’s making the growth in the first place.

Re:Peter Norvig's Economic Simulation (2018) by sideshowb on Saturday February 22, 2020 @10:29AM (#22391457)
Yes. except I suspect once you take negative externalities such as carbon emission into account the true rate is currently more like 1 percent if not actually negative.
Re:Peter Norvig's Economic Simulation (2018) by fizixer on Saturday February 22, 2020 @08:50AM (#22390987)
> You’re assuming the 4-6% growth is a given ...

I only assumed that to be charitable to OC's argument. If we don't assume that, then OC's criticism of Norvig's simulation assumptions is even more invalid (only slightly so though; it's already invalid enough).

Re:Peter Norvig's Economic Simulation (2018) by simonh on Saturday February 22, 2020 @09:54AM (#22391292)
Oh the OCs argument is silly, the simulation is about share of wealth not absolute wealth.
Re:Peter Norvig's Economic Simulation (2018) by Anderkent on Saturday February 22, 2020 @06:29AM (#22390477)
No capital powerhouse achieves 20% year over year. Some capital company maybe gets that each year, but they take losses in different years, so it's just swapping places. Berkshire Hathaway averages what, 9% a year?