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Re:Minimum Wage Clock by oh_sigh on Thursday January 04, 2024 @04:49PM (#38872743)
What society reduced it's rich people and increased the average richness? When I think of the concept my mind jumps to stalin eliminating the kulaks, or mao and the cultural revolution, or pol pot, which ended up helping destroy their society, not make everyone wealthier.
Re:Minimum Wage Clock by beaeglebeached on Thursday January 04, 2024 @04:55PM (#38872827)
When the rich get rich via redistribution of value rather than generation of value, average richness rises after those rich are deposed.
Re:Minimum Wage Clock by oh_sigh on Thursday January 04, 2024 @05:18PM (#38873078)
What examples are there of that?
Re:Minimum Wage Clock by beaeglebeached on Thursday January 04, 2024 @05:26PM (#38873147)
As crazy as it sounds, the cuban revolution up until the late 80s. While their communist economic system was far from ideal, it saw significant rising GDP/cap vs the days when farm labor were like slaves and their output redistributed to petty farm masters under Batistas favored rich men.
Re:Minimum Wage Clock by wavemode on Thursday January 04, 2024 @09:17PM (#38874930)
Do you have a source for that? Most accounts I've read regarding that period talk about massive decreases in food production after the government took over those industries.
Re:Minimum Wage Clock by beaeglebeached on Thursday January 04, 2024 @10:16PM (#38875298)
tiny.cc/c0jsvz

They had a rough first 10 years breaking even vs GDP/c under Batista but there was rapid advancement after that until collapse of the Soviet Union.

Re:Minimum Wage Clock by jjj123 on Friday January 05, 2024 @10:03AM (#38879778)
There were obviously other factors at play, but the US was at its most equal just after WW2, which was also a very prosperous time.

Source: Capital by Piketty