315 karma · joined September 24, 2019
I'm going to interpret that as acknowledging that the bulk of the distribution is not Pareto with Pareto fitting well only at the end of the right tail. This fits with a mostly multiplicative dNW/dt but in a random walk rather than monotonic increase, or a sublinear PA, but with increasing linearity at the very high end. Not that we actually need to model this blindly, dNW/dt is to a significant extent just Y, income, and we can and do measure income, at least. A lot more accurately than wealth, even. More importantly, there is enough data with both for the same individuals that we can examine the relationship between the two. Certainly, there is a positive correlation, but overall it seems R ~ 0.33 across many countries, which is fairly low, really, and if you want to eyeball the graph you can probably see the data points clustered tighter near the top.
Now, I can't tell you what distribution @linschn might target as desired or if there are things beyond mere distribution that they would wish to address. My reading of their comment would be that they wish to focus on ensuring non-NW effects >> NW effects, i.e. high mobility, not necessarily high equality (does raise an interesting question here, would a combination of mobility and inequality also tend to increase zero-sum vs positive-sum competition?) Still, given that the correlation, although low, does exist, any actions increase to mobility does seem likely to reduce final inequality as a side effect. This does not necessarily shift the shape of the distribution (rather than spread) significantly, but there is no reason why it should need to.
> How on earth do you propose to hault 22222... vs. 0.0011.0011.0001* ... ? By what means are most individuals on the planet coordinated so that the labours of one do not multiply benefit themselves, but "divisionally benefit" everyone? What process to the general benefit of society could be imagined where net wealth grows without inequality?
I don't see why anyone should care for growth of total NW over Y. Wealth isn't real, there is not literally a warehouse full of stuff and services that wealthy people can draw upon, so it can only be a claim on future Y plus or minus inflation. I entirely agree with @linschn in this respect, seeing growth in wealth being higher than growth in income as a good thing is complete and utter madness, and yet those are the scenarios where the PA or PA-like effects relatively dominate. If during relative stagnation it's a choice between infinite paper growth (plus increasing concentration) and the apocalypse, let's have the apocalypse. At least the apocalypse is honest about what it is. In a way, it's the Greek sense of the word.
Again, you are assuming your conclusion, and you do not even do us the favour of stating premises, which is hardly conducive to a productive discussion (or, any, really). On the other hand, it is quite fundamental to welfare economics that under a few assumptions, some unrealistic and some less so (namely: perfect information, fully internalised externalities, absence of market power, local nonsatiation and convexity of preferences and production) it is possible to reach any point on the Pareto frontier. The policies required to reach a desired point in such a toy model is left as an exercise for the reader. Now, the actual juicy questions here are how things like market power, externalities and imperfect information affect this? Is the model still a good approximation? To what extent are we able to correct things, and do we even want to? If we do, how best to do it?
> The "natural mechanism" of "fair procedures" in the case of systems wherein parts attach to other parts based on their current size
Again, you assert that it's "natural" and "fair" as if the result is a foregone conclusion. If it is inevitable that dx be a f(x) ~ x then yes, that's an exponential. Why would it be unnatural or unfair for dx to be instead a function of y, some other factor that has no proportionality to x? You are stating as a conclusion and premise that financial wealth experiences preferential attachment unconditionally, that is in essence, circular reasoning. What is the actual mechanism, the force, and how irresistible is it really? Would resisting it simply divert its effects to something else, for example, concentration of political rather than economic power?
Quite frankly, the dismissal of everything outside of a frankly ridiculously narrow space, where your model with an unspecified mechanism (which does achieve the results that you say it does) clearly must be an accurate reflection of the real world in all circumstances... Well, it gets old quite fast. If you really must use that model, describe and justify the accuracy of your proposed mechanism at least, if you please.
Instead, I would like to encourage those interested to consider and discuss the similarities and differences between capital income taxes and wealth taxes, between taxation and non-voting ownership of an asset, and between voting and non-voting ownership. What is the average rate of return on capital and what is the volatility? What is the difference between the CPI basket and that of the implicit GDP deflator and why? Those are all interesting questions to ask and answer.
Incidentally, astute readers that have picked up on the fact that Pb has Z=82 which is larger than 66 should pat themselves on the back and note that the 4 isotopes all have a yet-to-be-observed decay to mercury, with half life of >1.4×10^20 years for 204 and experimental lower bounds of >10^21 for the other 3. Theoretically, 208 takes >10^124, which means 207 is "more" stable.
Scientific publishing is possibly one of the biggest scams there is. The public funds scientists to do research who then haven't to pay the publishers for the privilege of publishing with them (no royalties! just the opposite!) The publishers who then send the papers out to reviewers who do what is essentially the entire point of the process, peer review, for free (reviewers almost never get paid) and then, once accepted for publication, they then charge exorbitant amounts for the same scientists (who want to do research, which requires knowing what your colleagues have done) to read that work.
Honestly, say what you will about Big Pharma, Disney or whoever else people usually complain about when it comes to abusing the state of intellectual property rights, but the sheer brazen balls of charging the people who actually do the work not once but twice, and charging everyone else as well (that's three!) Let's just say I'm glad cOAlition S was launched—and their current plans? Getting rid of APCs as well? *chefs kiss*. But yes, the exact models are something that are still currently being worked on, see PLOS: https://theplosblog.plos.org/2023/06/moving-away-from-apcs-a...
(Also covered, somewhat ironically, behind a paywall at Nature: https://www.nature.com/articles/d41586-023-03342-6)
Another thing noted is that urban features such as green spaces, water features, and increased shade may work where exceedance is typically nonhumid (i.e., North America, Middle East, Australia), these factors may not be as effective or even actively detrimental in more humid environments due to the added humidity.
See for example, Ebi, Kristie L., and Irakli Loladze. "[Elevated atmospheric CO2 concentrations and climate change will affect our food's quality and quantity.](https://doi.org/10.1016/S2542-5196(19)30108-1)" The Lancet Planetary Health 3, no. 7 (2019): e283-e284.
[1]: https://slate.com/business/2012/08/the-price-index-divergenc...
Have the resources to develop zero days? Of course they do. Like, even Iran, North Korea, Uzbekistan, Vietnam, etc have the resources required to either make their own zero days, pay someone unscrupulous for it or acquire them some other way. It only costs a few million.
There's this fascinating concept called res publica that means that the public (you, the people) are supposed to do this "government" thing. I've been told you've actually got some of it in the US. Of course, it's entirely possible that what you have is so dysfunctional that the demos have entirely given up their right and responsibility in running the place, but I don't think that's actually true.
While you'll always have a special place in my heart for beta testing the modern version, some of you haven't let that develop into a chauvinism that prevents one from seeing good things elsewhere that might be applicable at home (or for that matter, good things at home which might be applicable elsewhere, because home is completely and utterly incomparable in every way, and one needs not ever even bother finding out) and that's certainly better governance than trying the same thing over and over again, and somehow expecting better results.