Most people know this one.
Like 20% of the people own 80% of the world's wealth.
Like 20% of the workforce does 80% of the work.
Like 80% of your sales come from 20% of your products.
Like 80% of of the scoring comes from 20% of the players.
Let's take a look at the first theory.
If you flattened out the Bell Curve of the world's wealth would everyone in the world be Netting about US$60,000 per year? I bet it would be close to that figure.
I'll offer my services as a money manager to anyone who thinks they can't live comfortably on that.
Communism you say? Maybe. But it would solve a lot of the world's problems if the wealth was distributed evenly.
Do you think a corporate lawyer works harder than a Vietnamese rice paddy worker?
I don't.
Yet the lawyer makes $500,000 per year and the Rice Paddy farmer get $1000?
Not only that but the Rich are getting Richer and the Poor are getting Hopeless.
Ok let's talk about incentive. I agree, because we are a disgustingly greedy bunch, that money can be a great incentive. In the other hand I believe people will eventually do what they like to do.
So a doctor will be a doctor, not because he can make several hundreds of thousands of dollars but rather because he is interested in physiology and healing the sick.
A lawyer will become a lawyer because he is interested in interpreting the law, whether he makes $60,000 or $600,000.
If someone offered me $50/hr to be one of those traffic controllers on road construction sites, I still wouldn't do it. It's an awful job, no amount of money would make me want it.
You do what you want to do. I am in retail not because I am too stupid to do other higher paying work, it's because I enjoy retail.
Of course it's a naive Utopian pipe dream. If I had a million dollars I wouldn't want to give it up either.
Do I expect things to change? Hell no! I expect the gap between the wealthy and the poor to expand beyond this already unacceptable level.
