In his new book, Joseph Stiglitz outlines a sweeping plan to correct economic inequality http://www.theatlantic.com/business/archive/2015/11/stiglitz-heres-how-to-fix-inequality/413761/ … #choices
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@paulg I call b******* on that one, Paul. Do some reading on some other aspects of the economy besides startups -
@timoreilly I've already seen this "bullshit" happening. YC has funded many refugees from finance as the returns there have decreased. -
@paulg Yeah, and a lot of the startups are the same extractive game, rather than one creating real wealth. -
@timoreilly In fact not. But even if they were, they'd prevent fixing inequality, which is my point in this thread. - 1 more reply
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@paulg BTW, did you ever read the Stiglitz book, Paul? It is free online and a quick read. In any event, this is a better debate over beer -
@timoreilly@paulg most debates are better over beer. :)
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@paulg no one proposed banning hedge funds. Just taking away some of the baked in tax advantages that make Financial arbitrage so profitable -
@timoreilly I meant ban them making lots of money. If that happens, the people who want to make a lot will find whatever else works. -
@paulg No one is even suggesting banning them making lots of money. Red herring after red herring here... -
@timoreilly Surely that would be the default assumption about an element of plan for fixing economic inequality. -
@paulg@timoreilly You should really try reading the book. -
@timbray I will, believe me. But I suspect this is one of those cases where the reason something is hard to explain is that it's nonsense. -
@paulg Numbers suggest there's room to significantly attack poverty while inflicting only modest pain on us 1%ers. -
@timbray I wouldn't be surprised. But that won't stop some people from being a lot richer than other people. - 4 more replies
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@paulg@timoreilly You are arguing past each other. Inequality is not bad; rent seeking is. Be more clear with language. -
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@timoreilly@GeorgeShiber@wminshew@paulg If you by that mean we cannot have 50-50% on a macro level you're obviously right but Denmark :-} -
@timoreilly@GeorgeShiber@wminshew@paulg And Sweden, Norway, Iceland, Finland, Switzerland, Luxembourg + some extent Austria, Netherlands. -
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@equalitus@timoreilly@wminshew@paulg The U.S. is singularly unique in the history of 'economies': no comparative analysis is possible!
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