Why do people not like it when other people are much wealthier than them, even if those people created a lot more value for the world?
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Can some rich propel have captured it while others have created it?
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That was exactly my point. My boss does create value, maybe enough to justify how much he makes. He does quotes, advertising, and a bunch of other work, on top of having valuable client lists built up over decades, and he does the same work I do, too. But many owners don’t.
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Because such people do exist. The fact some rich people have gotten wealthy by exploiting the labor of others is taken by some to prove that all rich people achieved their wealth through unfair practices. It's essentially a cognitive short hand people operate on.
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Yeah. I think the shorthand is pretty accurate a good chunk of the time, though. There are a heck of a lot of rentiers out there.
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Warren Buffett seems to agree that rich people are the problem though. And he should know?
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The issue is how much wealth they consolidate. Not just that they are wealthy than others. Their contributions to society do not justify their wages. It is sign of a broken system.
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All it takes is a little time in corporations to know that some people enrich themselves significantly more than others. I made a significant amount of money in my tech career, but the compensation curve looks like the OF curve. a few at the top get orders of magnitude more /1
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A few years ago I looked at the disclosures about the CEO's compensation. It is primarily stock and if the company hit it's target numbers the CEO would get an additional 200% stock bonus. There is no rank and file employee whose bonus potential is 200% of base salary /2
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comes hands in hands The money the high earners makes seem absurd Otoh it's common to see power struggle, people being beaten down and exploited Step by step, the mind makes that connection Bc it's the only that makes sense if you don't understand how the money is "made"
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Why do you think it's downstream?
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