Post #10521 by foolsgrad on the Berkshire Hathaway board

Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A) ❤

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Through the 250 years of industrialization in the west, Rich people got way richer, the middle class got way richer, and poor people got way richer.

If 1) above were true, the vast increase of the richness of the rich should have resulted in the FURTHER REDUCTION in the standard of living of the poor. But the opposite is true, historically.

And economists do know this and do point it out all the time.

How is this not obvious?

During the last 250 years we have seen an incredible transfer of wealth from the rich to the poor through government intervention.

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