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[PEN-L:29514] Re: Re: Rising stock market redistributes wealth?
On Friday, August 16, 2002 at 20:36:34 (-0700) Eugene Coyle writes:
>Well, before the market went up your neighbor had $9,999,990 more money (in
>this asset) than you did. Afterwards he has $19,999,9980 more. I think he
>has done better than you have.
No, because distribution of wealth is measured by ratios, not
differences. If he has ten times more money than I do at time T, and
ten times more money at time T+1, there has been no change in
distribution.
Bill
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