sorry, was trying to quote "In case of a true fire or ship wreck if the CEO and mailroom clerk are treated the same in the rescue, then Capitalism survives. I think the mob only gets mad when the...
Wasn't a major point of the post that when the ship is ...
In case of a true fire or ship wreck if the CEO and mailroom clerk are treated the same in the rescue, then Capitalism survives. I think the mob only gets mad when the captain does not go down wi...
this case, the notion that wealth, in a basically post-scarcity environment, serves in part the function of insurance. Wealth is about insurance much more than it is about consumption. As consum...
Trade-offs between inequality, productivity, and employment - Interfluidity
Interfluidity on the Productivity Effects of Wealth as Insurance: Waldman is excellent and thoughtful, as always.
Inequality Damages Resilience Posted on August 9, 2012 by Michael Tobis • 0 CommentsA very creative and insightful piece by Steve Randy Waldman on income inequality makes the case that social ...
can only consume so much, but you can hedge against risk to an unlimited degree, and the ultra-wealthy do, suggests Interfluidity, and this makes a mess of a consumption-based economy when you g...
Your general proposition about wealth-as-insurance sounds like a much more complicated form of a relatively a simple idea--basically, that people's balance sheets should enter the utility functio...
For JKH, SRW, or anyone else, let's say I have a checking account at bank A and at bank B. I write a check for $100 from bank A and deposit it at bank B. How does that clear? Is it with $100 of c...