Message Number: |
742 |
From: |
Daniel Reeves <dreeves Æ umich.edu> |
Date: |
Tue, 4 Sep 2007 10:30:47 -0400 (EDT) |
Subject: |
Re: mind the gap |
Oy, either we're terribly miscommunicating or you're falling for the Daddy
Model hook, line, and sinker. Are you imagining that when a rich person
makes an extra dollar that that's one less dollar for some poor person?
> I am not in agreement ;-). I believe that skewed wealth distributions can be
> *directly* harmful to poor people. I think that as an individual accumulates
> wealth, the utility accrued from every additional dollar decreases. For
> example, the additional utility that a billionaire gets from buying her fifth
> yacht is much smaller than the additional utility that a poor person gets
> from having medicine to cure malaria. Thus, skewed wealth distributions can
> have a pernicious impact on net utility. As I mentioned in my previous post,
> some amount of skewedness may be necessary to encourage the talented or the
> industrious to work for the benefit us of all. However, there reaches a
> tipping point at which this inequality starts to generate negative aggregate
> utility. This phenomenon is causal, not correlational---the accumulation of
> negative aggregate utility is a direct consequence of the diminishing utility
> return for wealth accumulation.
--
http://ai.eecs.umich.edu/people/dreeves - - search://"Daniel Reeves"
You know what they say about dogs dogged by other dogs?
The dogged dogs dog the dogging dogs back.
Said more clearly: Dogs dogs dog dog dogs.
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