Archive for the ‘Inequality’ Category

This US History Sounds Marxist, And Also Basically True

This US History Sounds Marxist, And Also Basically True

By The Banker | Blog Posts, Inequality

Can something be basically Marxist and also basically true? Of course my answer is yes, because Marxism as a tool for analysis can sometimes be summed up as a ‘Follow The Money.’ As an economic and political system Marxism has – so far – been as awful a system as we humans can manage to [&hellip

TED Talk Video On Inequality From A Plutocrat

TED Talk Video On Inequality From A Plutocrat

By The Banker | Audio Posts, Inequality, Video

I think we should talk about inequality far more than we do. Even if I do not agree with the speaker, I would like to engage in the dialogue with anyone who speaks intelligently about the topic. I’m embarrased to admit I haven’t yet read Pinketty’s Capital, but I will. In the meantime, this is [&hellip

Cash Transfers and Inequality

Cash Transfers and Inequality

By The Banker | Blog Posts, Inequality

Markets work great, if the goal is to 1. Maximize total output; 2. Encourage innovation; 3. Reward maximum effort; 4. Reward talent; and 5. Use resources most efficiently. As a result, limiting markets tends to impair one of more of the above, valuable, outcomes. Also, non-market solutions to problems often produce sub-optimal results in one or more [&hellip

Missing the point, over at the NYTimes

Missing the point, over at the NYTimes

By The Banker | Blog Posts, Inequality

James Stewart writes an interesting piece this morning on a 55 year old NYC attorney who recently declared bankruptcy, after earning in the $375-500K range for the past 20 years for a series of high-powered New York law firms. Stewart’s analysis is that: 1. Being a non-equity partner attorney is tough these days, and 2. [&hellip

TED Talk on Inequality - Insights from Rigged Monopoly Games

TED Talk on Inequality – Insights from Rigged Monopoly Games

By The Banker | Audio Posts, Inequality, Video, Wall Street

Definitely worth watching this. Social scientists rigged a Monopoly game to see how people’s behavior changes with changes in socioeconomic status.  And they tested other games to study the effects of money on things like empathy.  You may not be surprised, but you will be interested.     Please see related post on Monopoly and [&hellip