Re:Economic Pessimism Growing in U.S.
by nightski on Tuesday May 31, 2022 @03:15PM
(#31573635)
I don't feel like that is accurate at all. The most valuable assets by far are successful companies. While it is true that they are owned in large part by a "few" (relative to the total population), that few changes often. We've seen massive changes in wealth in just the past decade alone, particularly in tech.
[ Parent
| on HN ]
The most valuable assets by far - accounting for over half of all wealth - are land in highly desirable locations, because both individuals and companies have to pay rent while the landlord pays basically nothing in upkeep in perpetuity while only facing the unlikely risk that rents might drop to zero if the land becomes undesirable - not very likely if you own part of downtown New York, London or any major city.
Re:Economic Pessimism Growing in U.S.
by jjoonathan on Tuesday May 31, 2022 @03:26PM
(#31573788)
Yeah, but the systematic problems come from the shape of the pyramid not the identity of the people at the top, so churning them doesn't help.