The Living Thing / Notebooks :

Economic inequality

return to capital versus return to labour

Will call your achievements meritocratic for food

Piketty, Hayek, Marx, Pareto. The supercritical Matthew effect. Informational feedback Matthew effect.

What the hell is growth, and who does it? Do we care if only the minority does it? Is it a problem if technocapitalist god kings rule over a blasted landscape of diseased stunted serfs, or is that totally cool? If fine, is it sustainable? If not sustainable, does that really matter, or should we just go out with a billionaire yacht orgy on the swollen rotten oceans then blow the lights out with nukes?

Chris Dillow, on increasing income inequalities amongst companies

If all of this is right, and these are long-lasting changes – which is a big if – then we need to ditch some old mental models and rediscover some others. We should abandon the idea that competition equalizes profits and restrains monopolies and perhaps return to some older Marxian ideas.

Are intangibles worsening the productivity gap between leading firms and laggards?:

We wonder whether might be more going on here than just a failure of technological diffusion. Specifically, we suspect that the nature of what the winning businesses are doing is changing in a way that makes it harder for their competitors to catch up.
The trick of governance by other means than wishful thinking.

This applies to political as well as economic power.

To read


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