Skip to main content

View Diary: Warren Buffet's Son Calls For Revolution. Well, Sort Of. (66 comments)

Comment Preferences

  •  That would be a start (4+ / 0-)
    Recommended by:
    whenwego, ChemBob, Lilredhead, elwior

    but the reality is that wealth always recaptures any effort to reduce its accumulation. That hasn't just been going on since the Gilded Age, it's been going on since the Roman Empire and probably much earlier.

    A very simple exercise in mathematical modeling reveals that the problem is inherent in money itself: accumulating money creates a positive feedback for accumulating more money. Any system that attempts to reduce this positive feedback is eventually corrupted -- bought -- so that the positive feedback increases. The result is always that accumulation proceeds until wealth is concentrated in a very few hands, and everyone else is poor. At that point you get a collapse of the system, "barbarian invasions", and a feudal dark ages run by warlords.

    The (mathematical) solution is obvious: the problem is in money itself, so the solution is to get rid of money. But that idea is still too radical for most people to consider.

    •  I disagree with your math (6+ / 0-)

      Germany and the Nordic Countries have all entered the Global market and experienced rising living standards with only minor change to their relatively equitable income distributions.

      I find it annoying when  people simplify the economy to fit into a few neat equations, then mistake the equations for the real thing.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site