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“Generally, systems are adaptive and self-correcting; when they become too lopsided, autocorrecting feedback mechanisms kick in and stabilize the system. Systems with unchecked reinforcing loops, however, ultimately destroy themselves.”
― SUPERHUBS: How the Financial Elite and their Networks Rule Our World
― SUPERHUBS: How the Financial Elite and their Networks Rule Our World
“Today eighty people hold the same amount of wealth as the world’s 3.6 billion poorest, and the combined wealth of the richest 1 percent will soon overtake that of the other 99 percent.7 Many in this group of super-elites are financiers. This development has been exacerbated by the fact that the wealthy can capitalize on returns on ownership rather than solely on labor, a practice known as “rent-seeking.” In other words, they can let their money work for them, and over time these investments yield a higher rate of return than the economy’s rate of growth. In contrast, salaries derived from labor don’t rise as quickly as the returns on capital.8”
― SuperHubs: How the Financial Elite and Their Networks Rule our World
― SuperHubs: How the Financial Elite and Their Networks Rule our World
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