Activity

The prominence of middle classes in the last century actually made the rich richer than would have a quest to concentrate wealth absolutely. Broad economic expansion is more lucrative than the winner taking all. Some of the very rich occasionally express doubts, but even from the most elite perspec…

Marx wanted something that most people, including me, don't want: a committee to make sure everyone gets what's best for them. Let's reject the Marxist ideal and instead consider the question of whether markets can be counted on to create middle classes as a matter of course.

The recent breakdowns of finance can be understood as the symptoms of a fallacious hope that information technology can make promises on its own, without people.