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…If we today had the income distribution we had in 1979, the top 1% of the population would have ~$670B less, that’s about 40% less income, or $600K per person…the bottom 80% has lost the same $670B, and that works out to $5K per family…
…It’s a reflection of the changing structure of the economy that when value comes from ideas, you can lever and extend ideas much further than you can lever and extend your muscle or even your ability to produce things ..I don’t think it’s something that we’re going to have an easy time fighting…