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Economic inequality cannot be explained by individual bad choices, study finds (phys.org)

submitted 1 year ago by [email protected] to c/[email protected]

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A global study led by a researcher at Columbia University Mailman School of Public Health and published in the journal Scientific Reports finds that economic inequality on a social level cannot be explained by bad choices among the poor nor by good decisions among the rich. Poor decisions were the same across all income groups, including for people who have overcome poverty.

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[–] [email protected] 1 points 1 year ago (1 children)

But if at birth Tina has a trust fund of say $900,000 that is invested in index funds and blue chip stock, Jerome is likely to have significantly less money than Tina at retirement even though he worked hard and she just partied.

Capital outpaces labour, mathematically speaking.

[–] [email protected] 1 points 1 year ago* (last edited 1 year ago) (1 children)

Wait, did you write this non sequiter in defense of rebul's garbage take?

[–] [email protected] 1 points 1 year ago* (last edited 1 year ago)

Christ no.

I was trying to explain the main point in Thomas Picketty's Capital in the 21st Century in a way they might understand, but I soon saw that I had vastly underestimated how hard that is to do.

That's my bad, next time I'll either take the time to spell it out a lot more clearly, or just walk on by.

Not sure how you came to the conclusion I'm defending their argument, when I can see you just downvoted me for telling them I don't understand them?