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Paul Tudor Jones, On Income Equality

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This is one of the legendary traders of this current time, that I look up to. I don't agree on this completely, but he recognises that income inequality leads to three outcomes:

Revolution

War

Higher Taxes

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The US is at the top of the inequality chart. He has a good point on inequality (as well as Piketty, Capital in the 21st Century). The recent threads on HPC about healthcare, young adults collecting bottles for money are showing us that this is coming to a head. I hope you are born with a silver spoon in your mouth, in the next life.

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I disagree with him fundamentally on one point. We can't 're-think capitalism' because the West doesn't operate under capitalism now and hasn't done for decades.

It might be interesting to actually introduce a proper capitalist system.

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I disagree with him fundamentally on one point. We can't 're-think capitalism' because the West doesn't operate under capitalism now and hasn't done for decades.

It might be interesting to actually introduce a proper capitalist system.

we need to be careful about the distinction between capitalism with a conscience,and corporate socialism.

what we've had over the last 20 years at least,is corporate socialism.

I think there were one or two US presidents that actually warned about such a set up...and it does need to change.

no I don't subscribe to wholesale redistribution of wealth,but there are certainly some legislative loopholes like the employees IP rights if they work for a company,being WAY too restrictive( in most corporations T's and C's it's regarded as company property, rather than property that the employee can create,and licence back to his/her employer with sufficient recompense/royalties)

of course all the corporate end is bound up in huge legislation favouring the corporation rather than the individual..which also needs to change.

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