Re:Inheriting is becoming nearly as important as working
by smallmancontrov on Friday February 28, 2025 @08:14PM
(#43214398)
So long as rich-get-richer mechanics play out inside of a single generation they are unquestionably OK? What even is this argument?
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Re:Inheriting is becoming nearly as important as working
by danielmarkbruce on Friday February 28, 2025 @09:29PM
(#43215002)
he didn't say it's ok. He said piketty is wrong. Anyone who studied even econ 101 and combined it with a teaspoon of common sense knows piketty is an idiot and that book is garbage. He's a politician.
Re:Inheriting is becoming nearly as important as working
by smallmancontrov on Saturday March 01, 2025 @09:45AM
(#43219666)
No, inheritance isn't the only dubious method of accumulation that Piketty described. Try again.
Re:Inheriting is becoming nearly as important as working
by danielmarkbruce on Saturday March 01, 2025 @01:18PM
(#43221957)
Maybe actually take econ 101 so you can get the thrust of the book rather than getting lost in the details. His thesis, in that book, is that r > g and that over many years that difference results in very large accumulations of wealth. No one disputes that there are various means that r is achieved.
It doesn't change the thesis, which is wrong. r is not greater than g for any reasonable amount of time for individuals/families because humans have an amazing ability to behave stupidly and reduce r below g.