More On Wealth Inequality

From Vox Day:

However, both works share the same recognition of the intrinsically flawed nature of the three primary forms of government: monarchy, aristocracy and democracy. They also recognize the way these forms tend to degrade over time and transform into the others. Both Plato and Cicero are fundamentally skeptical about democracy, as Plato . . . → Read More: More On Wealth Inequality

On Wealth Inequality

Joseph Stiglitz:

Inequality is bad for growth, stability and efficiency. … Inequality peaked both before the Great Depression and before the Great Recession, and it’s not an accident. So basically, when we have a lot of inequality, demand goes down. … All this inequality was offset by creating a bubble. The bubble allowed people . . . → Read More: On Wealth Inequality

The resource curse of land ownership

Land ownership in pre-modern India

In India, 50 or 100 years ago, land was a defining feature of wealth. The stock of land generated a flow of income. The landless were low-paid agricultural labour. The landed gentry of rural India were the kings of their heap. They had power, prestige, position, prosperity.

In the . . . → Read More: The resource curse of land ownership

This Isn’t Promising

From the WSJ:

In 2009, households headed by adults ages 65 and older possessed 42% more median net worth (assets minus debt) than households headed by their same-aged counterparts had in 1984. During this same period, the wealth of households headed by younger adults moved in the opposite direction. In 2009, households headed by . . . → Read More: This Isn’t Promising