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But what exactly is the output of the financial services sector? [...] If one investment fund is outperforming another through picking the right shares, is not another fund losing on the other side of the equation? What makes it a positive-sum rather than a zero-sum business? [...] "Common sense su…

[...] When richer families have more children, inequality is reduced [...] "The average upper middle-class familiy is only two-thirds of the size of the average working-class family. Hence, in the absence of modifications introduced by marriage, fresh accumulations, and taxation, the distribution…

If families practice primogeniture, passing wealth on each time to a single member of the next generation (typically the oldest son), then the total would be unaffected.

One reason for there being no comparable unemployment target is that there is a degree of ambiguity about the goal itself. Indeed, we have to ask why the US Congress is seeking "maximum employment." Why is it better to increase the number of sixty-four-year-olds stacking supermarket shelves? To pur…