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A comment on The wealthiest 10% of Americans own a record 89% of all U.S. stocks. Parent comment

Re:The wealthiest 10% of Americans own a record 89% of all U... by ghostwriter on Monday October 18, 2021 @01:21PM (#28907991)
> It's also true that a child born poor in this country is far more likely to stay as such than they are to become part of the top 10%.

how many of them get to the top 20%, how many more get to the top 30%? in other words, there's no need to be the best basketball player to succeed in life.

> but considering that our current wealth inequality is worst than 1774 France, then I believe it's a fairly accurate picture being painted.

wealth inequality is a meaningless measure, as J. K. Rowling increased it the moment she published her first book, and made it even larger with subsequent releases. If you look at the statistics of it, it might look as if she took advantage of her readers by making them financially poorer by the cost of books they bought. Obviously, the stats have no concern of non-monetary value exchanged here, and proclaim wealth inequality instead.

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Re:The wealthiest 10% of Americans own a record 89% of all U... by hammock on Monday October 18, 2021 @01:41PM (#28908245)
>how many of them get to the top 20%, how many more get to the top 30%? in other words, there's no need to be the best basketball player to succeed in life.

A fine thought. Though in a world of increasing inequality (Gini coefficient, etc), the "winner takes all" dynamic makes it more and more necessary to actually be "the best basketball player to succeed in life."

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Re:The wealthiest 10% of Americans own a record 89% of all U... by diordiderot on Monday October 18, 2021 @07:39PM (#28913242)
This book analogy doesn't make sense to me
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Re:The wealthiest 10% of Americans own a record 89% of all U... by thissuchness on Tuesday October 19, 2021 @08:59PM (#28925618)
They weren't clear with what they meant, but to steelman the argument...

Some things that increase wealth inequality are bad, others are good: J.K. Rowling increased wealth inequality by writing Harry Potter, but the world is better off having a great children's book series. Book purchasers, publishers and authors are all enriched by the existence of the book.

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Re:The wealthiest 10% of Americans own a record 89% of all U... by diordiderot on Wednesday October 20, 2021 @04:49AM (#28928327)
Ah thank you
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