Economic Inequality: paulgraham.com/ineq.html
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@paulg finally, very few of today's very wealthy are wealth creators; most are inheritors or rent seekers.
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@simon_brooke @paulg The fraction of people on the Forbes "rich list" who inherited their wealth has dropped from 60% to 30% over 3 decades.
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Replying to @cperciva
@cperciva @simon_brooke @paulg Aren't such lists based on public data, which biases them towards those w/ big stake in 1 company?

Jan 2, 2016 路 10:47 PM UTC

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Replying to @davidbaron
@davidbaron @cperciva @paulg probably. The major 'wealth management companies' specialise in obfuscating the assets of the very wealthy.
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Replying to @davidbaron
@davidbaron @simon_brooke Yes, but the money has to come from somewhere. Aside from dictators, it's hard to amass that much wealth covertly.
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