Thursday, October 24, 2013


A misconception the bogan Tories have, inspired in them by rightwing pundits, is that high earners are largely rewarded for providing "value" to society. In fact, most provide "value" to those who hold large financial claims on society, which not only creates a self-perpetuating elite based solely on those claims, but increases the burden of the rich on the rest of us.

This is hard for people to grasp, because the people who employ them are richer than they are, but it is not even true that the rich create jobs. Anyone could create them if they knew how and mostly they create themselves. The rich simply ride on our backs, using their advantage in information and property holdings to create not wealth but claims on wealth, which are not the same thing at all.


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