August 2014

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Thank you for carrying the torch.

Lately I've reflected that poverty is like beauty, in that exists in the eye of the beholder. As you have argued, the "poor" of today have a higher absolute standard of living than did kings five hundred years ago.

Yet lamentation about poverty continues. So poverty (in the eye of the beholder) is not about standard of living. I wonder if it is about the existence of a difference, i.e. that some have more than others.

Elizabeth Warren has more influence over resources than I do because she received more votes than I did. It seems pretty straightforward and fair.

We can apply the same logic to the private sector. Jeff Bezos has more influence over resources than I do because he receives more dollar votes than I do.

Both are systems of representation...but there are some significant differences. In the private sector we have a "division of representation"...

http://redd.it/1uxtbp

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