Re:Elite do-gooders 'fixing' the world are part of the probl...
by jjoonathan on Tuesday August 11, 2020 @04:22PM
(#24125521)
Yeah, if you average the rich and poor together, they're getting richer! But the poor are still getting poorer. Averages hide disparities. We've been over this!
Tangent 1: Placeholder: I don't agree that consumption metrics are better.
Tangent 2: Rich people do consume (colloquially speaking) proportionally to their increased wealth, but after sating their material desires they turn to financial assets: dibs on passive income and future growth. More for them does mean less for everyone else. Both in the first-order sense of owning more shares and in the second-order sense of being on the winning side of prevailing trends in globalization, automation, tax law, and corruption.
Tangent 1: Placeholder: I don't agree that consumption metrics are better.
Tangent 2: Rich people do consume (colloquially speaking) proportionally to their increased wealth, but after sating their material desires they turn to financial assets: dibs on passive income and future growth. More for them does mean less for everyone else. Both in the first-order sense of owning more shares and in the second-order sense of being on the winning side of prevailing trends in globalization, automation, tax law, and corruption.