California is collapsing. The Guardian has an outsider’s perspective on the downfall of the world’s eighth largest economy. The Golden State is fading. California has a special place in the American psyche. It is the Golden State: a playground of the rich and famous with perfect weather. It symbolises a lifestyle of sunshine, swimming pools [...]
Posts Tagged ‘Wealth’
Positive-Sum vs. Zero-Sum
Posted in Economics, Psychology, tagged Evolution, Inequality, Trade, Wealth on August 19, 2009 | 5 Comments »
Once a friend claimed to me that a free market was ultimately unsustainable because in the long run, all wealth would be channeled to one person. The implication here is that the government provides a necessary check to prevent such injustice. The claim is one that addresses complex social and economic features of how humans [...]