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vgr's profile
Venkatesh Rao
Venkatesh Rao
Venkatesh Rao
@vgr

Tweets

Venkatesh Rao

@vgr

Conversational account. For work follow @ribbonfarm, @breaking_smart, @artofgig. Tweets are 90% vacuous views, apathetically held. Mediocritopian. IKEA builder.

Los Angeles, CA
venkateshrao.com
Joined August 2007

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    1. Russell Roberts‏Verified account @EconTalker 18 Aug 2018
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      Russell Roberts Retweeted Brent Welder

      I am agnostic on whether CEOs are overpaid but to imply that inequality impoverishes workers is not true. The conflation of inequality with suffering is simply not logical.https://twitter.com/BrentWelder/status/1030847965517279233 …

      Russell Roberts added,

      Brent Welder @BrentWelder
      Every time this number ticks up, millions of workers are impoverished. What will you do to help reverse this epidemic? #FightFor15 pic.twitter.com/VvBKgTPfYK
      59 replies 107 retweets 601 likes
    2. Venkatesh Rao‏ @vgr 18 Aug 2018
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      Replying to @EconTalker

      Being at the bottom of a tall do,inance hierarchy is linked to higher stress and all the attendant risks. It’s a social effect not a material resource deprivation problem. Eg. https://sites.tufts.edu/eshclass/2017/09/16/social-hierarchy-and-stress/ …

      2 replies 0 retweets 19 likes
    3. Venkatesh Rao‏ @vgr 18 Aug 2018
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      Replying to @vgr @EconTalker

      Sapolsky’s findings with other primates strike me as strong enough to generalize to humans. You can’t just wish away human social psychology with material utility.http://science.sciencemag.org/content/308/5722/648 …

      3 replies 0 retweets 7 likes
    4. Russell Roberts‏Verified account @EconTalker 18 Aug 2018
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      Replying to @vgr

      Don't know what you mean by "material utility." Humans certainly compete for status. But an increase in the compensation of CEOs does not impoverish me, you, or poor people. Plus as @PJORourke once said, "wealth is not a pizza." Bigger shares for some doesn't mean less for others

      4 replies 1 retweet 22 likes
    5. Venkatesh Rao‏ @vgr 18 Aug 2018
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      Replying to @EconTalker @PJORourke

      I mean the material living standards that economists love to rhapsodize about. Status is more not a footnote effect. More inequality = more layers. More social layers between bottom and top = more stress at bottom.

      4 replies 0 retweets 10 likes
      Venkatesh Rao‏ @vgr 18 Aug 2018
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      Replying to @vgr @EconTalker @PJORourke

      There’s a whole literature on relative deprivation. Wealth is not zero sum but power is. Basic 101 pie size/share arguments aren’t going to help understand low versus high inequality regimes and why latter cause strife. https://en.m.wikipedia.org/wiki/Relative_deprivation …

      9:25 PM - 18 Aug 2018
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      • Sid George Balella • Sachin 🙋🏻‍♂️G⃞🅴🅾🅵🅵 Kyle Russell queaugie Coty Rosenblath Tony D 🔴🔴🔴🔴🔴🔴🔴
      2 replies 0 retweets 13 likes
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        2. Russell Roberts‏Verified account @EconTalker 18 Aug 2018
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          Replying to @vgr @PJORourke

          All interesting but not relevant in my view to a complain that high CEO pay (a few thousand people maybe) impoverishes workers.

          3 replies 0 retweets 8 likes
        3. Venkatesh Rao‏ @vgr 18 Aug 2018
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          Replying to @EconTalker @PJORourke

          That’s attacking the strawman implication of the pay differential graphic you QTed. High pay differentials are symptomatic of large power gradients resulting in strong well-being impact at the bottom. Increasing stress and decreasing agency constitute impoverishment.

          5 replies 0 retweets 20 likes
        4. Show replies
        1. Nathanael Johnson‏Verified account @SavorTooth 18 Aug 2018
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          Replying to @vgr @EconTalker @PJORourke

          This actually seems like a very @EconTalker point. I wonder how much income that stress of being low on the ladder is worth. Eg would you rather make 20k in an equitable country or 30k in a highly inequitable one?

          0 replies 0 retweets 1 like
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