"Few can believe that suffering, especially by others, is in vain. Anything that is disagreeable must surely have beneficial economic effects. "
— John Kenneth Galbraith
bansaisequoia
December 16, 2010, 2:27 am
If 2% of the people control half of the world's wealth, that means they work 49 times harder than the rest of the world. This is easy fourth grade math. If 98% of the population has the same amount of money, the 2% must have worked 49 times harder. (link)
msswitch
June 27, 2014, 10:18 am
This is based on a false premise--namely, that work is compensated based on how hard it is to perform. Many of the 2% who control half the world's wealth inherited it or made profitable investments.
— John Kenneth Galbraith
bansaisequoia
December 16, 2010, 2:27 am
If 2% of the people control half of the world's wealth, that means they work 49 times harder than the rest of the world. This is easy fourth grade math. If 98% of the population has the same amount of money, the 2% must have worked 49 times harder. (link)
msswitch
June 27, 2014, 10:18 am
This is based on a false premise--namely, that work is compensated based on how hard it is to perform. Many of the 2% who control half the world's wealth inherited it or made profitable investments.
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