Pity the rich …

Interesting op-ed in the WSJ

Punch line: For the most part, the wealthy bust their tail, work 60-80 hour weeks building some game-changing product for the mass market, but at the end of the day they can’t enjoy much that the middle class doesn’t also enjoy. Where’s the fairness?

Just about every product or service that makes our lives better requires a mass market or it’s not economic to bother offering.

Those who invent and produce for the mass market get rich.

And the more these innovators better the rest of our lives, the richer they get but the less they can differentiate themselves from the masses whose wants they serve.

Why is that?

Because practically all folks have access to low cost technology (think cell phones), fashions (think retro Air Jordans) and  travel (think annoying but economic air travel).

Ken’s Take: Apparently the former hedge fund manger who wrote the article has forgotten that many of the super-rich didn’t amass their wealth by “inventing and producing products for mass markets” …. but, rather,  got rich by, well, running hedge funds and derivative operations.

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One Response to “Pity the rich …”

  1. TK Says:

    Scary how out of touch these guys are. Too bad they are making policy based on delusions rather than facts.

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