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Re:93% of U.S. households' stock market wealth is held by th... by engineer_22 on Thursday January 11, 2024 @04:05PM (#38959061)
Yes but I think the outrage isn't about wealthy engineers and merchants, but that there is not a suitable protection to prevent wealthy children from joining the rentier class and subsequent failure to contribute to society.

For arguments sake, I don't think it's outrageous to guarantee someone who has created great value that their children will live comfortably throughout their lives. But there may be a class of people who consume a disproportionate amount of goods and services who have not personally contributed to our society, but by fortune of birth are allowed to continue an extravagant lifestyle.

Re:93% of U.S. households' stock market wealth is held by th... by toomuchtodo on Thursday January 11, 2024 @04:09PM (#38959109)
People don't want to be told the world is a meritocracy when it's roulette (born to the right people in the right place), but so much of the system operates under the meritocracy/exceptionalism belief system (American dream, effort and skill will lead to success, anyone can succeed), and if people see it for what it is, lots of people are not a fan of the changes that will occur. "They live" [1] for a suboptimal economic arrangement. "You aren't successful? Have you tried working harder? Being smarter? Knowing the right people? Getting a better job?" [2] [3]

Wealthy people want to stay wealthy, powerful people don't want to give up power. Everything else is a struggle over the collective spreadsheet. "Should life be more fair? If so, what does that look like?" is what keeps all of this in perpetual tension.

[1] https://en.wikipedia.org/wiki/They_Live

[2] https://www.youtube.com/watch?v=P8ijiLqfXP0

[3] https://news.ycombinator.com/item?id=38070159

Re:93% of U.S. households' stock market wealth is held by th... by TacticalCoder on Thursday January 11, 2024 @04:20PM (#38959252)
> People don't want to be told the world is a meritocracy when it's roulette (born to the right people in the right place)...

Look at it from the perspective of the parents. My kid is my kid because I decided to have it and it's got 50% of my DNA. I decided to not have my kid in my Somalia. Just as my parents decided not to have me in Somalia.

And all around me I see how so many parents making terrible life choices.

I'm teaching my kid to answer "blame your parents".

Re:93% of U.S. households' stock market wealth is held by th... by saagarjha on Thursday January 11, 2024 @04:35PM (#38959465)
“Only the well off living in stable countries should have children” is an awfully dystopian viewpoint, don’t you think?
Re:93% of U.S. households' stock market wealth is held by th... by hospitalJail on Friday January 12, 2024 @07:44AM (#38967337)
I dont think there is anything wrong with safety nets, but I think its silly to think that over 50% of the world is going to live like kings when the work like fast food laborers.
Re:93% of U.S. households' stock market wealth is held by th... by hospitalJail on Friday January 12, 2024 @07:42AM (#38967323)
The world will operate under a meritocracy because Nature/capitalism has deemed it the most effective.

We can't play roulette with our leadership. There is a reason monarchies are good as dead.

Re:93% of U.S. households' stock market wealth is held by th... by wyre on Thursday January 11, 2024 @04:20PM (#38959243)
I think even more than their lack of contributions to society, but the power their wealth brings to continue to protect their wealth, privilege, uphold the status quo, and continue widening the disparity of wealth between classes.