Oh, and check this out:
https://www.seattletimes.com/business/developer-martin-selig...
That's gotta hurt!
But inequality is not a problem. People wanting to make it big come to the USA. That's why the USA has the biggest, most successful, companies that drive the US gdp forward.
Inequality is only a problem for people who are envious.
But I get your point, inequality isn't a problem in itself, but seeing your money go to rich people for no good reason does feel very bad even if the problem is the corruption and not the inequality.
> seeing your money go to rich people for no good reason
Anyone can buy stocks and get their share. For example, NVDA. If you'd bought some, you'd have made quite a lot of bank, and made your friends unhappy with you because of the money you unfairly made for no good reason.
I know many ordinary schlubs who became multimillionaires by simply buying NVDA, MSFT, AMZN, AAPL, etc.
Or when you have to pass by homeless tent cities in your downtown. Or when you are the victim of crime because the kid pulling a gun on you is envious because their family is poor and you're rich.
Extreme inequality brings social strife in multiple layers, if you're individualistic you might not care for it but for a society it fosters resentment and erosion of social cohesion.
But I don't think you care about that in general.
This is the conventional wisdom, but I can't think of a revolt in a free market country.
> But I don't think you care about that in general.
My reading of history is that free markets bring the greatest prosperity to the greatest number of people. No other economic system comes close.
Cutting other people down to size because you're envious just makes things worse. It produces economic stagnation, and the demand for "equity" is endless and endlessly makes things worse.
It doesn't end well.
Be careful what you wish for.
Keep in mind that the most prosperous companies are in America and bring that prosperity to Americans and are the envy of the world.
Lmao
This works well for companies because they can get higher margins. This works well for the people with money but other people are being left out. And with increasing inequality the number of people left out goes up.
Basically we are creating a world designed for the top x percent of people. And they are creating laws that favor themselves.
The big money is targeting where the customers are - the middle class. That's why VW got so big. Why Ford and GM and Chrysler made so much money. Selling cars to the middle class. Tesla has also moved down market for the same reason.
How's Rolls Royce, Bentley, and Jaguar doing? Case closed.