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Offline jae208

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The reason there is vast wealth inequality is because we have been living in a society where wealth meant physical assets. Assets such as land, cattle, factories, real estate etc. These assets get passed on from one generation to the next. The barriers to entry to even acquire these assets in the first place are quite high. It is challenging for the average person to obtain such assets. At the same time those that come from wealthier families have a very substantial advantage over those that don't. Basically if your family is rich you'll most likely still be rich and if your family is poor you will most likely still be poor. This is part of the old commodity based economy.


Now, in the knowledge economy which we are currently making a transition too, wealth isn't defined by commodities but rather by intellect and your social reputation. Just like it was for our hunter gatherer ancestors.

I think its just best if you read the research I learned this from. They do a better job at explaining. :)



Intergenerational Wealth Transmission and the Dynamics of Inequality in Small-Scale Societies
http://www.ncbi.nlm.nih.gov/pmc/articles/PMC2792081/#!po=0.416667
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Offline Stan

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The reason there is vast wealth inequality is because we have been living in a society where wealth meant physical assets. Assets such as land, cattle, factories, real estate etc. These assets get passed on from one generation to the next. The barriers to entry to even acquire these assets in the first place are quite high. It is challenging for the average person to obtain such assets. At the same time those that come from wealthier families have a very substantial advantage over those that don't. Basically if your family is rich you'll most likely still be rich and if your family is poor you will most likely still be poor. This is part of the old commodity based economy.


Now, in the knowledge economy which we are currently making a transition too, wealth isn't defined by commodities but rather by intellect and your social reputation. Just like it was for our hunter gatherer ancestors.

I think its just best if you read the research I learned this from. They do a better job at explaining. :)



Intergenerational Wealth Transmission and the Dynamics of Inequality in Small-Scale Societies
http://www.ncbi.nlm.nih.gov/pmc/articles/PMC2792081/#!po=0.416667

EDIT:  Yes!  Now more than ever this philosophy is true:

Don't focus on the advantages of others.  Focus on you own goals.

I will point out that two year's ago bytemaster was milking cows while I was chasing thirty @#$%#!! chickens out of our garden -- just like our ancestors have done for uncountable generations.  Now its time for me to go feed some more firewood into the boiler before joining my wife for a glass of champagne as the new year arrives.

Nothing is impossible for anyone.
The important thing is to start.



« Last Edit: January 01, 2015, 02:03:34 PM by Stan »
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Offline crypto4ever

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Basically if your family is rich you'll most likely still be rich and if your family is poor you will most likely still be poor. This is part of the old commodity based economy.

Now, in the knowledge economy which we are currently making a transition too, wealth isn't defined by commodities but rather by intellect and your social reputation. Just like it was for our hunter gatherer ancestors.

Don't focus on the advantages of others.  Focus on you own goals.

I will point out that two year's ago bytemaster was milking cows while I was chasing thirty @#$%#!! chickens out of our garden -- just like our ancestors have done for uncountable generations.

Without Stan realizing it, he agrees with you. If it wasn't for social intellect for embracing crypto, and BM's and Stan's reputation being accepted by the majority who follow Invictus thus far, perhaps bytemaster would still be milking cows while Stan is chasing chickens out of his garden.

Luckily social intellect and reputation have built Invictus from just those two very exact things as the starting point.

Nothing is impossible for anyone.
The important thing is to start.


Fantastic!  I'm male, and would like to get pregnant naturally and give birth.  How do you suggest I start?

By the way the research paper made this concluding statement:

" the current trend towards a knowledge-based economy that is less reliant on material wealth and more reliant on embodied and relational wealth might in the long run be associated with a concomitant reduction in intergenerational wealth transmission."

I think that's a fair statement.
« Last Edit: January 01, 2015, 03:52:55 AM by crypto4ever »

Offline Stan

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I meant to agree.  The post was intended to be an example.

True, there are some things beyond each person's reach.
But there are also many other things left unreached for.

"Ah, but a man's reach should exceed his grasp,
Or what's a heaven for?"  -- Robert Browning,     :)
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline abelljefrry

Fantastic!  I'm male, and would like to get pregnant naturally and give birth.  How do you suggest I start?

Idk if you are joking or what, but... Weirdly enough that's actually my dream too. Seriously.
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Offline onceuponatime

Fantastic!  I'm male, and would like to get pregnant naturally and give birth.  How do you suggest I start?

Idk if you are joking or what, but... Weirdly enough that's actually my dream too. Seriously.

You start by getting rich enough to pay for the R & D yourself. You cannot expect others to pay for it because very few share your desire/dream.

Offline abelljefrry

Fantastic!  I'm male, and would like to get pregnant naturally and give birth.  How do you suggest I start?

Idk if you are joking or what, but... Weirdly enough that's actually my dream too. Seriously.

You start by getting rich enough to pay for the R & D yourself. You cannot expect others to pay for it because very few share your desire/dream.

Touche. +5%
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Offline RenaudGagne

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Concentration of wealth happened because of the economy of scale requiring massive capital investment.  Now, more and more, we are moving toward a Zero Marginal Cost society(no additional cost per added unit of a given good or services). Wealth will tend to spread laterally.

But still,  the 80 20 power law will always happen(unless we go full on communist).

Offline jae208

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The reason there is vast wealth inequality is because we have been living in a society where wealth meant physical assets. Assets such as land, cattle, factories, real estate etc. These assets get passed on from one generation to the next. The barriers to entry to even acquire these assets in the first place are quite high. It is challenging for the average person to obtain such assets. At the same time those that come from wealthier families have a very substantial advantage over those that don't. Basically if your family is rich you'll most likely still be rich and if your family is poor you will most likely still be poor. This is part of the old commodity based economy.


Now, in the knowledge economy which we are currently making a transition too, wealth isn't defined by commodities but rather by intellect and your social reputation. Just like it was for our hunter gatherer ancestors.

I think its just best if you read the research I learned this from. They do a better job at explaining. :)



Intergenerational Wealth Transmission and the Dynamics of Inequality in Small-Scale Societies
http://www.ncbi.nlm.nih.gov/pmc/articles/PMC2792081/#!po=0.416667

EDIT:  Yes!  Now more than ever this philosophy is true:

Don't focus on the advantages of others.  Focus on you own goals.

I will point out that two year's ago bytemaster was milking cows while I was chasing thirty @#$%#!! chickens out of our garden -- just like our ancestors have done for uncountable generations.  Now its time for me to go feed some more firewood into the boiler before joining my wife for a glass of champagne as the new year arrives.

Nothing is impossible for anyone.
The important thing is to start.

I agree with your comment Stan, in particular with the can do attitude.

I wasn't complaining about how 'unfair' it is that others have what they have. Honestly, I'm not an envious person.

I seek to understand the world and I seek for explanations based on science. I also seek to give myself an advantage over the long term based on knowledge I gain.

This research paper gives me some guidance as how I should focus my time and energy in the knowledge economy. It also teaches me that social reputation and wit will be more and more important as time goes on. As a result I will focus my time and mental capabilities on improving both.
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Offline jae208

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Basically if your family is rich you'll most likely still be rich and if your family is poor you will most likely still be poor. This is part of the old commodity based economy.

Now, in the knowledge economy which we are currently making a transition too, wealth isn't defined by commodities but rather by intellect and your social reputation. Just like it was for our hunter gatherer ancestors.

Don't focus on the advantages of others.  Focus on you own goals.

I will point out that two year's ago bytemaster was milking cows while I was chasing thirty @#$%#!! chickens out of our garden -- just like our ancestors have done for uncountable generations.

Without Stan realizing it, he agrees with you. If it wasn't for social intellect for embracing crypto, and BM's and Stan's reputation being accepted by the majority who follow Invictus thus far, perhaps bytemaster would still be milking cows while Stan is chasing chickens out of his garden.

Luckily social intellect and reputation have built Invictus from just those two very exact things as the starting point.

Nothing is impossible for anyone.
The important thing is to start.


Fantastic!  I'm male, and would like to get pregnant naturally and give birth.  How do you suggest I start?

By the way the research paper made this concluding statement:

" the current trend towards a knowledge-based economy that is less reliant on material wealth and more reliant on embodied and relational wealth might in the long run be associated with a concomitant reduction in intergenerational wealth transmission."

I think that's a fair statement.

 +5%

I definitely think that it is a fair statement.

This makes me think that the people that will be 'wealthier' in the future will be those with the most youtube subscribers and twitter followers. And acquiring such followers will be done by with wit and relationships.

 
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Offline Riverhead

I was chasing thirty @#$%#!! chickens out of our garden

Glad to see some things still haven't changed for you. ;)

Offline jae208

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Concentration of wealth happened because of the economy of scale requiring massive capital investment.  Now, more and more, we are moving toward a Zero Marginal Cost society(no additional cost per added unit of a given good or services). Wealth will tend to spread laterally.

But still,  the 80 20 power law will always happen(unless we go full on communist).

I couldn't agree more!
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Offline Stan

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I was chasing thirty @#$%#!! chickens out of our garden

Glad to see some things still haven't changed for you. ;)

Yeah, come to think of it, you are right. 
At least back then I could eat the ones that wouldn't take the hint...

 :)
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Offline BldSwtTrs

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Regarding the knowledge-based economy and the reduction of the importance of intergenerational wealth, I think there is some wishful thinking here.

If knowledge become the most important competitive advantage then, guess what, people will upgrade their brains. And that will initially cost a lot of money/capital, thus people with accumulated wealth will be able to easily conserve their competitive advantage assuming they are ready to adapt. Of course some won't adapt and they will lose their status, but the cause would be, as always, the unwillingness to adapt, not the economic paradigm shift per se.

Humans are a very hierarchical species. If knowledge is the new ultimate social weapon then, people, in order to climb in the pecking order, will compete for knowledge as hard as they competed for physical assets. And knowledge by itself will not magically destroy the importance of hereditary advantages in the competition.
« Last Edit: January 03, 2015, 12:08:07 PM by BldSwtTrs »

Offline CLains

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I'd say the very structure of reality is hierarchical. The process of sensory input in the brain certainly is, and even our best sciences seems layered in levels, such as particle physics -> chemistry -> biology -> psychology; something like this is true for technological innovation as well, there is a telescopic effect, the macro builds on the micro innovations, and larger sized objects form condensed laws that while not as general, often govern the course of things down below. In essence a hierarchy can compress a range of information, which makes reality as a whole parsimonious, in the sense that it can exhibit a great diversity of events with less effort, sort of like language can by the structure of grammar exhibit great diversity by combining condensed information-packets of meanings with near-general grammatical combination laws.
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