Article about richness
http://www.telegraph.co.uk/men/thinking-man/11500107/When-did-the-rich-become-so-utterly-horrible.html
Superb article from Alex Proud in the Telegraph
Superb article from Alex Proud in the Telegraph
(edited 9 years ago)
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Original post by young_guns
Thank you, I just reached my limit last night and was quite annoyed as I didn't realise there was one!
(edited 9 years ago)
Original post by young_guns
http://www.telegraph.co.uk/men/thinking-man/11500107/When-did-the-rich-become-so-utterly-horrible.html
Superb article from Alex Proud in the Telegraph
Superb article from Alex Proud in the Telegraph
I agree with most of the article, especially the numbers relating to the top earners
BUT
I disagree with the airline example...in fact I'd say the author has used it in the wrong way. So he says that airlines are making economy smaller to allow for more space for premium/biz/first class travelers...squeezing the many for the benefit of the few...so my issue with this statement is simple, doesn't that mean that there are actually MORE rich people travelling now?
(edited 9 years ago)
I think segregation of the 'CEO class' is only part of it. Shareholder primacy and self-attribution bias also play a part.
The rise of the idea of shareholder primacy in the 80s had the effect of legitimising CEOs caring about little but the bottom line. Short to medium term economic benefits resulted, but at the cost of innate responsibility to employees, other stakeholders and the environment.
Self-attribution bias is the tendency to attribute great success to one's own qualities, rather than benefits conferred by upbringing, society or luck. I don't know what effect the widening gap between CEO pay and average pay would have on the strength of this self-attribution bias, but I would hazard a guess that it would amplify its effects.
The rise of the idea of shareholder primacy in the 80s had the effect of legitimising CEOs caring about little but the bottom line. Short to medium term economic benefits resulted, but at the cost of innate responsibility to employees, other stakeholders and the environment.
Self-attribution bias is the tendency to attribute great success to one's own qualities, rather than benefits conferred by upbringing, society or luck. I don't know what effect the widening gap between CEO pay and average pay would have on the strength of this self-attribution bias, but I would hazard a guess that it would amplify its effects.
Original post by bullsizzle
I agree with most of the article, especially the numbers relating to the top earners
BUT
I disagree with the airline example...in fact I'd say the author has used it in the wrong way. So he says that airlines are making economy smaller to allow for more space for premium/biz/first class travelers...squeezing the many for the benefit of the few...so my issue with this statement is simple, doesn't that mean that there are actually MORE rich people travelling now?
BUT
I disagree with the airline example...in fact I'd say the author has used it in the wrong way. So he says that airlines are making economy smaller to allow for more space for premium/biz/first class travelers...squeezing the many for the benefit of the few...so my issue with this statement is simple, doesn't that mean that there are actually MORE rich people travelling now?
No, it doesn't.
Interesting article and i somewhat agree with the premise (need to make dinner so can't read it all now).
Essentially i'm quite a capitalist so i don't care about multiples per say but the underlying point is that the income of the average worker has stopped increasing even by an average of 5% which would be an entirely reasonable number regardless of CEO's getting larger pay rises. The effect of this is that many families have not seen disposable income increase by much. I don't care if income inequality increases but i do damn well care if the pay rises offered to most people don't give them more disposable income.
I would say though that people are unduly harsh on a lot of people. Somebody earning in the 99th percentile only earns a similar amount to Cameron, this is almost a 1% problem although the political class pander like hell to rural homeowners which has created the housing problem.
That being said i do disagree with some of the article, i don't care if people flaunt wealth for example.
Essentially i'm quite a capitalist so i don't care about multiples per say but the underlying point is that the income of the average worker has stopped increasing even by an average of 5% which would be an entirely reasonable number regardless of CEO's getting larger pay rises. The effect of this is that many families have not seen disposable income increase by much. I don't care if income inequality increases but i do damn well care if the pay rises offered to most people don't give them more disposable income.
I would say though that people are unduly harsh on a lot of people. Somebody earning in the 99th percentile only earns a similar amount to Cameron, this is almost a 1% problem although the political class pander like hell to rural homeowners which has created the housing problem.
That being said i do disagree with some of the article, i don't care if people flaunt wealth for example.
(edited 9 years ago)
Original post by crosstalk
No, it doesn't.
why not? if space in a plane is the one variable we cannot change what else is the reason then? its not like their leaving the space empty? the space for economy is being taken by 1st class as the demand for that is obviously (to me) growing? What is the reason in your opinion?
Original post by bullsizzle
why not? if space in a plane is the one variable we cannot change what else is the reason then? its not like their leaving the space empty? the space for economy is being taken by 1st class as the demand for that is obviously (to me) growing? What is the reason in your opinion?
http://www.usatoday.com/story/travel/columnist/mcgee/2014/09/24/airplane-reclining-seat-pitch-width/16105491/
Read the article again.
(edited 9 years ago)
About 1381 in response to the Peasants Revolt?
I think this is a nicely written article and it pretty much sums up the world we live in. I kinda feel like we're all in one giant pyramid scheme.
Since when were the rich considered nice?
The rich has always been horrible, just look back to the dark ages.
The rich has always been horrible, just look back to the dark ages.
This is a pretty one-sided argument. When Bill Gates or Warren Buffet die, they money they will leave behind to charity will do far more to help the poor than any socialist ever has.
stupid grauniad
Oh wait.
Oh wait.
Original post by The_Mighty_Bush
This is a pretty one-sided argument. When Bill Gates or Warren Buffet die, they money they will leave behind to charity will do far more to help the poor than any socialist ever has.
The transistor came out of public funded research and development you pleb
Original post by ChaoticButterfly
The transistor came out of public funded research and development you pleb
SO what you are saying / implying, is the transistor would never have been discovered without public funding?... seems a bit of a plebby view.
Original post by nixy49
SO what you are saying / implying, is the transistor would never have been discovered without public funding?... seems a bit of a plebby view.
I'm implying that modern computing that has changed so much wouldn't have come to light if it were not for the transistor and other technological development that categorically did not come from "private entrepreneurship" of the kind you lot seem to obsess over.
I'm also assuming you think any economic order that is not private corporatism is socialism, i.e. public funded research.
Basically these big tech giants couldn't exist without what you would call "socialism"
So much of the tech that underpins modern day tech capitalism (for want of abetter word) comes from stuff like the space race and military research which was all public funded. The Pentagon system in the US basically acts as a socialist system of risk protection for corporations.
(edited 9 years ago)
The dominated are made of the same clay as the dominators. Don't flatter yourself into believing you wouldn't exploit and hurt others to acquire and safeguard privilege too. We do it every single day, even if we don't believe so.
Original post by The_Mighty_Bush
This is a pretty one-sided argument. When Bill Gates or Warren Buffet die, they money they will leave behind to charity will do far more to help the poor than any socialist ever has.
So?
The article is about how the super rich have secluded themselves from wider society, safe in their ivory towers away from the bother of those leas fortunate than themselves.
A more pertinent question than how much they give away when they die would be when was the last time Gates/Buffet/etc used public transport (as an example).
Original post by Abstraction
The dominated are made of the same clay as the dominators. Don't flatter yourself into believing you wouldn't exploit and hurt others to acquire and safeguard privilege too. We do it every single day, even if we don't believe so.
That's partly why I had an anarchist tinge. What do you do to stop a leader from becoming a tyrant? You have the mechanism in place to hold him to account.
(edited 9 years ago)
when they started eating all the pies.
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