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Re:Inequality, Interest Rates, Aging, and the Role of Centra... by Al-Khwarizmi on Friday December 30, 2022 @04:08AM (#34183322)
That there is not one K, but many, and we don't even know their exact values.
Re:Inequality, Interest Rates, Aging, and the Role of Centra... by bbwwnn on Friday December 30, 2022 @04:22AM (#34183398)
Could you or someone elaborate on that? It’s not obvious to me how uncertainty around K implies that equality is a good thing… it feels like there is some (perhaps obviously correct) assumption here on the distribution of K that’s missing here. Now if we say that utility provided to society by a person is concave with respect to their resources, then equality becomes obvious, but that seems different than this toy model (and also not obviously correct).