'Remember kids, - voluntary economic exchange is a zero-sum game - one person's success always victimizes someone else - inequality _always_ means exploitation - economic growth is a cruel illusion' This is what happens when activists sleep through Econ 101.https://twitter.com/BreeNewsome/status/1196078462055960577 …
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It's true that voluntary exchange is typically mutually beneficial and Econ 101 didn't used to include "exploit" in its vocabulary But modern econ recognizes exploitation (of mkt power etc) can/does occur (even when 1 side over-simplifies, best to not respond with strawman...)pic.twitter.com/k2nHfzhj8J
I worked in an Econ dept for four years, and wrote a whole book ('Spent') about exploitation of consumers by marketers. I just wish the Left would stop believing that the economy is a zero-sum game.
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I would agree with the part of what she said re hard work. There are millions of ppl who work themselves to the bone, but are not smart enough, capable, or in the right place/time to become wealthy. Working smart & being positioned well can create wealth, but hard wk helps...
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Yes. But there seems to be an implication that this must be corrected through government mandate / threat of violence. Better to give people the sound advice you’ve outlined than to vilify the rich.
End of conversation
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