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A comment on 20 year study of global wealth demolishes the myth of ‘trickle-down’. Parent comment
Increased wealth through technological means has had two effects.
1. It's raised the maximum possible wealth ceiling. That is, the wealthiest people who've ever lived, are alive today.
2. It's lowered the minimum survivable poverty floor. That is, it's possible to survive being poorer than at any previous point in history.
As Clark puts it in his introduction, "There walk the earth now both the richest people who ever lived and the poorest."
Sample chapter online: http://assets.press.princeton.edu/chapters/s8461.pdf
https://archive.org/details/farewelltoalmsbr00clar/page/n9/m...
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Increased wealth through technological means has had two effects.
1. It's raised the maximum possible wealth ceiling. That is, the wealthiest people who've ever lived, are alive today.
2. It's lowered the minimum survivable poverty floor. That is, it's possible to survive being poorer than at any previous point in history.
As Clark puts it in his introduction, "There walk the earth now both the richest people who ever lived and the poorest."
Sample chapter online: http://assets.press.princeton.edu/chapters/s8461.pdf
https://archive.org/details/farewelltoalmsbr00clar/page/n9/m...