35 karma · joined December 18, 2017
You can't hurt the rentiers, e.g. large American banks, and expect them to not get compensation or destroy you in turn. They are the law. To think that it matters that the technology is better (and it's debatable that it really is) is ludicrous.
Highly religious societies have a strong desire for tradition, and tradition is "women don't work and have no power, corruption is rampant, new things are bad (because they destroy the golden geese that keep the upper class rich and in power)". Pakistan and India are going nowhere soon.
WWII was a great leveling of the playing field. There are many times in history when Gini coefficients dropped precipitously. All the evidence points to the fact that wealth tends to accumulate in capitalist economies until crises or government intervention prevents it.
The Fed's balance sheet on the other hand, now that makes the student debt load seem miniscule.
It's a classic example of "worldly" Americans going to the Louvre and being "cultured" but not having the depth of understanding that Eastern Europe is a wonderful, beautiful place. It's just not as well-kept and poorer so they turn up their nose.