Saturday, 9 October 2010
Euromillions - The Lottery Principle - How the poor create free lunches for the rich
Great! One player receives a huge income. The other few million lose their entire investment. Nothing has been added to the common stock of wealth. No new wealth has been created. At all.The entire population of poor create a huge free lunch for a single rich person. Luck.
This is largely how monopoly power operates in the world today. These are the rules we play by. The Lottery Principle. * The process by which the poor create free lunches for the rich.
* Thanks to Charles Bazlington for his excellent book.
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wealth
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