October 28, 2014 at 8:38 am #18461
Yes I first read Gary North on this which is what inspired my current project. I was just wondering if you also accepted this or if you can think of objections to it? Because I can’t comprehend why economists(whether free market or not) have ignored this phenomenon for so long. I have only seen Gary North refer to this but no other Austrian. For this reason I’m wondering if perhaps it might not be taken seriously by economists or perhaps the methodology used is the reason the figures come out with close to 20 % owning 80 %.?
The fact that this is a social law would suggest it holds for economics as well and that it is not down to methodology.