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« Update on China | Main | Wiki nanotech sites »

April 15, 2004

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» German's Meticulous Preparations for Penalty Shoot-Out from we gave Lehmann
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Brett Bellmore

I would say, first of all, that we can differentiate interest earned as a result of savings, from interest earned on a windfall. But, more to the point, who says that unearned income doesn't harm the wealthy? Given all the advantages wealth can bring, in the way of enriched childhoods, educational oportunities, access to starting capital without resort to scrimping, the fact that the wealthy so frequently fail to create lasting dynasties indicates that being born into wealth does indeed have some harmful consequences.

TomC

If biotech and nanotech lead to significant life extension, this may be a non-problem. Just as today, people will work full time, savefor retirement, and then live off their interest, perhaps supplemented by light work. But due to life extension, the number of full time wage-dependent workers may only be 10% of the total population. Out of fairness, that situation will call for the end of any subsidy of retirees by young workers, but otherwise it'd pretty much be business as usual.

TomC

If biotech and nanotech lead to significant life extension, this may be a non-problem. Just as today, people will work full time, save for retirement, and then live off their interest, perhaps supplemented by light work. But due to life extension, the number of full time wage-dependent workers may only be 10% of the total population. Out of fairness, that situation will call for the end of any subsidy of retirees by young workers, but otherwise it'd pretty much be business as usual.

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