

Air Jordan and The 1% - jkuria
http://online.wsj.com/article/SB10001424052702303649504577492300632472284.html

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gradstudent
In Romania we have an saying that goes something like this: better to be first
in the country than last in the city.

I mention it only to highlight how ridiculous it is for the article in
question to argue that the bottom fifth of today's society have it better than
the top 1% in 1790 ever did. Imagine, those poor top-hatted bastards living on
their massive estates without any electricity or Internet. Without so much as
an automobile to call their own; making do with only their chauffered horse-
drawn carriages to get around.

Oh, the humanity!

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melvinmt
> .. perhaps a century from now low-income Americans will pity the living
> standards of today's 1%.

This is by far the stupidiest article I've read this week.

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RyanIyengar
"Certainly there are reasons for concern if lower-income Americans aren't able
to save or acquire sufficient capital to pursue innovative ideas, or to see
their children attend decent schools. They will suffer, and the country will
lose out on significant intellectual capital and growth opportunities. But
this should not be confused with inequality."

These things that are commonly understood to literally define the word
inequality and are direct symptoms of it, yes those actually have nothing to
do with inequality. Trust me, I own a dictionary. Don't look it up.

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nazgulnarsil
What is this? Basic economics conflicting with a pleasant narrative? BEGONE!

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jordo37
And why is today crack economics day on HN? Between this and the Economist
opinion piece. I wouldn't mind some news stories (including the news story
behind the opinion piece), but opinions of staff writers reading tea leaves or
justifying their economic principles with sports stories is not what I come to
HN to read.

