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From Tim Harford’s The Undercover Economist Strikes Back:

Almost one in ten of China’s richest one thousand people sits in the National People’s Congress – a body of almost 3,000 lawmakers. Their average net worth is four times the average net worth of the richest politicians in the United States Congress, despite the fact that the United States is a far wealthier nation.

It must be because they are capitalist, laissez-faire dogmatists.

3 Responses to “Inequality and Plutarchy”

  1. Harry says:

    Great post from WC., who is grazing in the Back Pasture. As a regular reader, I had resigned myself to no new ones until August, when WC regularly tells us he will abolish TUW.

    But these guys ALWAYS want it both ways. Less traffic on the highways on the way to the airport with the proles clogging the roads, and more privacy and lower prices in good restaurants if you cannot bring the chef and the servants to you. Command the chef and servants, since the army reports to you. Moreover, one need not be a big-time plutocrat to do this. You can be a Venezuelan, Nicaraguan, Nigerian, or North Korean plutocrat with a weak balance sheet and still pull it off with a straight or even a menacing face.

    But then who are we to criticize?

    One hopes the back pasture has gotten plenty of rain and the grass has plenty of sunshine.

  2. Harry says:

    Should have said FEWER proles clogging the roads on the way to the airport, in a bulletproof armored Chevy Suburban with flags on the front fenders, and a full escort.

  3. Scott says:

    a wonderfully insightful post, thank you for sharing

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