And Thomas debunked it! Violently and beautifully

milton?

did he study under him?

i know they were both at chicago

but i thought he had a different mentor

eh, not important

@Stefan Payne Yes, but it's also depressing how long this nonsense has been debunked now. We've been refuting this for 40 years or so.

Yes and our best black dude has given an awesome explanation.

...and Jordan seems to have found that....

and is parroting his statements

thing is: Jordan is more known than Thomas I think.

Eh, it's not hard to refute the wage gap.

I don't think Jordan needed to copy that.

And if he really channels Sowell, I don't mind.

If I can get rich in my retirement years by simply restating Sowell, please don't spoil it for me.

I just got a pocket constitution just to be that annoying prick

I recommend all US citizens get one, just for funzies

sounds like a good idea

@Timcast "Force rich people to reinvest in the economy." .... What exactly do you think wealthy people do with their money otherwise? Stuff it under the couch?

Monetary inflation incentivizes everyone to invest. Desire to increase wealth incentivizes people to invest.

Even if some didn't invest... so what? You could treat their lack of investment as monetary deflation meaning upward pressure on the value of the rest of the monetary supply.

the wealthy tend to just invest in new bussinesses in order to cause small investors to jump onto it after a recognizible name has joined and pressure the company into profitibility untill its breaking point where the big bussiness sells all their investment before it goes under leaving the small investors broke along with the company that just gets bought out by established bussinesses that have age and size in order to maintain their survival against investor pressure . so they dont really stuff it under their couch they just kinda feed off the lower classes by gambling

people that work and save get rich in america all the time.

So big investors are smarter than smaller ones? They can predict market success better? Selling their shares of a company means someone on the other side of that sale thinks it's worth buying.

You might as well blame the buyers for buying the share just as much as the seller trying to sell. It takes two.

And correct... people save and get wealthy regularly... but saving almost 100% of the time is investment. Money almost never sits idle. Even if it did... it'd just put upwards pressure on the value of the remaining money supply.

all ive told you is what happens, its your choice to have a problem with it or not

That's not what happens.

And it implies special knowledge or abilities in the wealthy which isn't explained.

the game is money, those who succeed are those who have the talents to succeed, then with those talents they use their money to compound their assets. talent, knowledge, and money are all power, those with power are those most likely to have power

that doesent really seem unexplained

the system as you describe it doesn't even seem altogether malicious

Saying "the rich are better" isn't really an explanation.

it even acknowledges the multinationals as mortal and vulnerable to failure

im not

im saying the better are rich

and really im only discribing a very select talent

people that are better with money tend to build up a lot of it

The rich is an ever changing demographic

heh

anyone who works in investment, not just someone who manages to put money on the right horse at the right time and live off a big gamble for the rest of their lives, i mean people who make their way to the top through spending real time investing, those people have something that gives them an edge beyond luck. it doesent matter where their talent and skill comes from, but it gives them the ability to survive within that system where no one without that talent and skill can. at this point very common trends have formed within it where the situation i discribed is a very very common occurence at the stock market