I agree fully, but I do want to know what the original image said before "birth lottery" was edited in
Looks like inherited is the original, but I also seen another one with "Luck"
Luck is the most generically accurate, but ultimately it does come down to birth lottery, as someone can just be born poor and disabled and no amount of post-birth luck is going to fix that.
Post birth luck can fix it. Wouldn't call Eminem a winner of the birth lottery but he was definitely pretty lucky with dr dre
Being lucky depends on being in the right situation and being able to grab the opportunity. Turns out that having rich connected parents means you get in more and better situations. Also, having money means a lot more chance to grab opportunities by easily moving for a job or go without income to take a chance without being evicted for not paying rent.
Right nation and not disabled (or even just hideous looking). Sounds pretty lucky to me
I'm not rich. But I was born poor and am no longer poor. The Birth Lottery blessed me with a brain, and with that as my only asset, I learned esoteric skills which I can parley into a niche career.
But more importantly, the social safety net in my country allowed me to get an education without becoming a wage slave for the rest of my life. Without that, I couldn't have pulled this escape from poverty off.
I now run my own business. We have no employees -- only owners who have self-invested. Our business is growing and I anticipate a comfortable retirement. Haven't got rich off the working class either.
So, thank you Canada for the opportunities. I've tried to make the most of them.
So can you answer his question or did you just see an opportunity to brag about yourself.
No. I was pumping socialism as an alternative to birth lottery. Enjoy your day :)
What's that got to do with the question?
Capitalism just has a feedback loop bug. In capitalism, resources are distributed based on capital. But capital is a resource. So you get more capital for having more capital. In any business, who gets the most money that business generates? Whoever had the most money to buy into it. No work, no expertise is involved in the equation.
See: Monopoly the game.
The winner is declared in the first 10 turns and it's all downhill from there.
You might or might not be referring to the fact that Monopoly was originally made to showcase exactly that; the impossibility of living under such a system.
https://en.m.wikipedia.org/wiki/The_Landlord's_Game
That's the original title.
"Yeah, we got a 10-94 here, an Internet user has gotten too wise, send in the economics squad"
You can literally just make the entire second pie chart "exploiting the working class", because "birth lottery" is dependant on that.
Great crime behind every great fortune, only question is whether they did the crime themselves or their parents did.
Or Luck/right place right time.
Ground floor entry on Bitcoin, Tesla, Amazon, whatever gave mad returns
Slightly more accurate may be combining both birth lottery and merciless exploitation.
Since winning that lottery let's them be the people who can mercilessly exploit people, who then have children who won that lottery, etc.
Isn't that what it says already? 50/50 bit of both?
Oh, I read it as half the people won the birth lottery, the other half exploited people.
As a 50/50 split for the person yeah that's what it would be
Just how I read the images sorry :)
Be in the political system and trade on stocks you have insider information on.
Good charts comparing why the "just world fallacy" is indeed a fallacy.
Own something valuable and then borrow against that thing. Easiest example would be to own stock worth say a thousand dollars and borrow a hundred dollars from that stock value you get to keep the stock worth nine hundred dollars growing in value while you pay the one hundred dollar "debt" off. If you ever get to where you could not pay it for some reason, you could always take $100 and pay it off immediately. I've heard this referred to as the buy borrow strategy and some people to avoid taxes will use this perpetually and they call it the buy borrow die strategy. Selling an asset often involves extremely heavy extortion from gangs that we call governments, where borrowing from the value of that asset does not incur such an extortion penalty.
Edit: The most important part though is just to make more than you spend from whatever you do.
Tbf, most tax authorities haven't been completely captured by billionaires and they recognise what your just described as a disguised remuneration package.
Tbf I feel like a lot of them work pretty hard at mercilessly exploiting the working class. Like, Space Karen has sent over 20,000 tweets? That's a lot of ~~work~~ tweets!
How rich people get rich: Assets.
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The only dangerous minority is the rich.
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