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If the increased value is in the reach of some of the 1% in the form of financial returns, the "disinterested" part doesn't seem a lock.

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
by BruceMcF (agila61 at netscape dot net) on Thu Jul 25th, 2013 at 09:41:28 PM EST
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So only financial returns interest the 0.1%? They must be pretty aware that their financial returns and the deflating economy allow them to buy the world several times over. They are only pretending to be still money crazy, so that the others would follow and keep the value of money up. With all their wealth, they are looking for control (not necessarily overt), and yes - secure future most probably. Their ways of securing own future on this planet look mysterious, but they might have methods from their peculiar experience or perception. Expanding useful infractructure would interest or disinterest them only from that angle.
by das monde on Fri Jul 26th, 2013 at 01:45:45 AM EST
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Isn't it interesting that the 0.1% are so clear eyed and rational? It's as if they're not actually human.
by Colman (colman at eurotrib.com) on Fri Jul 26th, 2013 at 01:50:54 AM EST
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That position has certain perks. You are not hazed by self-interested stories of others, for example.
by das monde on Fri Jul 26th, 2013 at 03:24:47 AM EST
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What about your own self-interested stories?
by afew (afew(a in a circle)eurotrib_dot_com) on Fri Jul 26th, 2013 at 03:27:57 AM EST
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That's the game! Aren't reptilian aliens cool?
by das monde on Fri Jul 26th, 2013 at 03:31:17 AM EST
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Past a certain points, money is points for keeping score, and those who rise to the top of the game by gathering more points than the opposition can either (1) keep playing or (2) step aside and let someone else chase the points.

So among the top 0.1%, there will indeed be aggressive pursuit of more financial return.


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Fri Jul 26th, 2013 at 04:16:43 PM EST
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At the extreme, if just one player gathers all points, the rest are theoretically totally indebted to him. But the rest might say: screw your points, we can do without you. So no one of the 0.1% wants to get close to this pure situation.
by das monde on Fri Jul 26th, 2013 at 07:19:27 PM EST
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The real rub is that maintaining a position as one of the richest in the world is a very non-trivial task that even more money will not necessarily solve, especially on an inter-generational time scale. Up to 90% of the power an oligarch accumulates is typically lost at the oligarch's death, and almost certainly within another generation or two. Even if mighty foundations live on they may or may not represent the interests of their creator and even if the main corporation survives intact they may pursue policies that would revolt the founder. During his life most assumed that it was pretty much usless for a Jew to apply for work at Disney. Walt's attitude was that they had the other studios. Having Eisner as the CEO was a major change for Disney.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Jul 26th, 2013 at 09:28:25 PM EST
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Above a certain level, fortunes tend to be self-perpetuating ... just not the extraordinary individual power that a handful of the ultra-elite accumulate during their lives.


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
by BruceMcF (agila61 at netscape dot net) on Fri Jul 26th, 2013 at 11:36:30 PM EST
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Fresh millionair families certainly have that problem. But the "know how" might evolve. Relative obscurity, appearing lower could be useful tricks.
by das monde on Sat Jul 27th, 2013 at 01:51:17 AM EST
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