Tuesday, January 03, 2012

Andy Kessler: The Rise of Consumption Equality - WSJ.com

Kessler’s conclusion on our growing equality of consumption,

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. It's the Pages and Bransons and Zuckerbergs who have made the unequal equal: So, sure, income equality may widen, but consumption equality will become more the norm.

To me, being rich means covering the basic necessities, and then having a challenging career, fun and fulfilling leisure time, and the love of family and friends. Compared to 20 years ago, or even five years ago, chances are that you're richer. Try to enjoy it.

Andy Kessler: The Rise of Consumption Equality - WSJ.com

The other argument I suppose that wealth confers political power, but my experience that’s not quite true… consider sitting in the old Meadville-Lombard listening to jibber-jabber on determining the power structure (it’s not self-evident, you gotta figure it out with an algorithim) yet knowing after dark in this neigborhood, the bad guys run things: escort me to my car please Mr. Baar? 

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