Hacker News Reader

I've heard a landlord justify rent increases because the tenants were just going to spend the money on tattoos anyway. Seems like the present.

View on HN

That’s the whole idea behind tax cuts and increasing income share for rich people and stagnating wages for everybody else. Only rich people can use money in a productive way. Giving it to the rest is just wasted.

I'm assuming this is a positive statement, not a normative one.

I love how this undermines the basic functioning of the market via supply/demand. If demand is artificially restricted by taking money out of the pockets of consumers, how is "what to produce" decided? I think increasingly that decision is pseudo-centralized in VCs and other large investors who decide what businesses to fund.

Long term the system still works - if those VCs et al back bad ideas, they lose their money

Even if the VCs lose money that money still mostly circulates among the wealthy and well connected.

That attitude has always existed in an economy to some degree, but you still retain the option to move to something else and get away from it.

A digital centrally controlled currency means you never get to escape it.

Even if you switch landlords for example, it would be inescapable, you have the masters of the universe doing it to you, not just one person you can move away from.

Reply on news.ycombinator.com