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Tag Archives: wealth

WEALTH INEQUALITY AND SKIN IN THE GAME

Tuesday, July 28, 2015

WEALTH INEQUALITY AND SKIN IN THE GAME A well functioning society isn’t one in which people are equal but one in which people have equal *probability*. So measuring static inequality is severely flawed. Take the United States. Less than 10% of the people in the 1982 list of richest 500 were there in 2012. Compare […]

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NONLINEARITY FROM WEALTH

Monday, July 23, 2012

NONLINEARITY FROM WEALTHWe can certainly attribute the fragilizing effect of modern globalization to complexity, and how connectivity and cultural contagions make gyrations in economic variables much more severe —the classical switch to Extremistan. But there is another effect: wealth. Wealth means more, and because of nonlinear scaling, more is different. We are prone to make […]

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