As a model of how our society works, you can do a lot worse than Monopoly. When I was a kid I loved playing (and cheating) the game. With the racing car as my token I would accumulate as much real estate as possible, focusing on buying railway stations and utilities, as well as having a very special relationship with the banker.
I rarely lost a game, but that was due to my exemplary cheating rather than any innate talent for imaginary wealth creation.
The distinction between talent and luck is important.
Last week after Credit Suisse released their Global Wealth Report, the Australian media went into back-slapping congratulatory hyperdrive snorting that Australians were the
wealthiest richest in the world. (more…)