RE: The Most Important Information in Modern History That Mainstream Media Chooses to Ignore or Are the Financial Reporters Really That Ignorant?
Great post. What are your thoughts on the Pareto principle and do you think it applies here and to "human nature" in general (whatever that is)?
I'm not convinced economic inequality is automatically bad (and I don't think you're saying that either). I think the impact on human well being and morality/ethics is how we determine if something is "bad" or "good." There are certainly risks to consider as well. One thing I like to remind myself of is how "Corporations" are government created entities. Governments create non-natural monopolies via their monopoly on the "legitimate" use of force. In my view, many things corporations do (via government support) would not be allowed on a free, transparent market with accurate price discovery. I'm even okay with natural monopolies because it means resources can be better used elsewhere to create new opportunities. If customers are happy with the service and the price, other market actors won't jump in unless there's profit to be made.
Many see government as a benevolent actor with a moral mission to protect and nurture good actors in society. I'm not there yet, but I'm reading books I disagree with to better understand the other side. I'll look forward to your future posts and will resteem this for more visibility.
I really believe in the Pareto principle and used it when I was in business so now we have to move business shareholder control towards 80:20 and not 99:1.
I agree with you on monopolies not all being bad hence some nationalized utilities etc. have done good. I will review the Pareto principle. Thanks for you good comments. My main thing is getting awareness that this is how it is. Then each can make up their mind who and what to support. I don't like the deceptions.