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"Either way, the concentration of wealth at the very top is much higher now than it ever was during the Gilded Age. And these are numbers from last year, before the SpaceX IPO. The robber barons were pikers compared with today’s oligarchs." paulkrugman.substack.com/p/meet-the-n...

paulkrugman.substack.comMeet the New Bosses, Worse Than the Old BossesThe second Gilded Age is much uglier than the first

timplex.bsky.social

@timplex.bsky.social

15 June

What has been the relation between innovation and wealth inequality? As inequality decreased from 1930-1980 we saw invention of transistor, laser, computer, satellite. Late 1800’s gave us telephone, light bulb, automobile but not sure how that aligned with wealth inequality.

Steve Randy Waldman

@interfluidity.com

one argument is that very high marginal tax rates combined with the continuing existence of firms with market power led to spending of profits that would have been heavily taxed if paid out to shareholders instead on prestige projects instead, like Bell Labs which invents the transistor.

15/6/26, 4:06 pm0 reposts4 likes

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