If true, the “every billionaire is a policy failure” idea is woefully incomplete. $999M would still be a policy failure; $10B is a bigger failure than $1B. It’s a non-binary spectrum, then, where any amount of wealth creation is some degree of failure. Therein lies the problem.
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I think taking them seriously might mean not that “any amount of wealth creation is some degree of failure” but that “failure” begins at, say, $100MM and very slowly gets more and more serious towards $1B. Can’t guess their real proposal though, maybe I’m being generous.
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I think what they want to say is “wealth creation is good but excessive amounts of that wealth residing in a few hands means something is wrong with the system”. They may be wrong but I (maybe charitably) think that’s what they’re trying to say
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I agree that’s what they’re trying to say. But I’ve never seen a logically-consistent definition of “excessive” or “few.”
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Haha while there would have to be an arbitrary “0% bad to more than 0% bad” point it would be feasible for it to go from 0%-1% over $100MM - $500MM and then quickly start ramping from there, or something like that.
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Eager to see a proposed chart that shows magnitude of policy failure vs net worth.
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It’s all about how many people they’re willing to demonize
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Assuming good intent & that you're not intentionally being provocative etc.. in data science there's the concept of cumulative error - each unit error is not bad, but if the cumulative exceeds a threshold, it should be corrected.
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While it may seem arbitrary to choose a hard threshold, we do it all the time ex: marginal tax brackets. Which actually show a good strategy to establish a soft boundary.. I.e. consecutive brackets do not have continuous boundaries, there's some overlap.
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