Posts Tagged ‘yard sale model’
“I think inequality is fine, as long as it is in the common interest. The problem is when it gets so extreme, when it becomes excessive.”*…
Alvin Chang, with a beautifully-told (and beautifully-illustrated) primer on a startling unpacking of the fundamental logic of our market economy…
Why do super rich people exist in a society?
Many of us assume it’s because some people make better financial decisions. But what if this isn’t true? What if the economy – our economy – is designed to create a few super rich people?
That’s what mathematicians argue in something called the Yard-sale model…
Read it and reap: “Why the super rich are inevitable,” by @alv9n in @puddingviz.
* Thomas Piketty, A Brief History of Equality
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As we ponder propriety, we might recall that it was on this date that Jane Austen‘s [and here] Pride and Prejudice was published. A novel of manners– much concerned with the dictates of wealth (and the lack thereof), it was credited to an anonymous authors “the author of Sense and Sensibility,” as all of her novels were.
Title page of the first edition (source)
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