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by worik·6y ago·view on hn ↗
The fundamental point (r>g) is irrefutable.

It may be possible to claim that inequality does not matter. In the absence of poverty that may be possible, but when the richest country in the world (USA) has a health system that leas out ~20% of the population and one of the poorest (Cuba) has a gold plated health system, that is a hard claim to make.

3 comments
> The fundamental point (r>g) is irrefutable.

There's a really easy refutation of that point: it is literally impossible over any major span of time, because r is a component of g. If r were to grow systematically faster than g, it would end up dominating everything else, with the result that g = r.

But economies do not follow uninterrupted tracks.

r>g is unstable, and it will collapse.

It should have collapsed in 2008, but capitalism is very resilient and capitalists very resourceful and they persuaded the victims to pay the costs.

Perhaps it will not survive the current pandemic, I fail to see how it can survive the looming environmental collapse, but time will tell.

(By "it" I mean a economic system with r>g)

Similar comparisons can be made between the US and otherwise ostsensibly 'poor' countries that provide free education.