Okay, Freddy, I will look up Vilfredo Pareto when I have a little time. I still have to look up the sources you cited in your posts of several days ago!!! I guess I will just put some time aside for an academic evening soon.
I would definitely agree that there is something of a bell curve on income in any society, in any event. Not everyone is similarly abled (how is that for policically correct!), and differences in IQ, mental health, education, fate (inherited wealth), and the drive to make money will produce a wide range of income levels everywhere there are any opportunities at all, beyond susbsistence hunting and gathering.
Investor Jimmy Rogers, in his motorcycle tour of the world, describes the differences he noticed leaving Russia and entering China. In Russia, the people were in a way paralyzed and depressed coming out of the Communist years, in his opinion. The individuals he met were not yet taking much initiative to make money. Of course we know that in the cities, particularly, there is a new criminal class that shows a LOT of initiative, but in the countryside the energy levels he saw seemed to be low.
On the other hand, when he crossed the border into China he was amazed at the difference--the Chinese maximized every asset they had. Crops were growing right out to the edge of every road. His point was that he would choose China, rather than Russia, as a place to invest, because they were far ahead of the Russians at grasping the opportunities of a free-enterprise system.
Freddy, as an Irish-American, you might be interested to know about the PBS special on the Irish contribution to a free America. Have you seen it? I was amazed to realize that the Irish hatred on the English because of centuries of what they perceive of as oppression, motivated a whole lot of them to come here and rebel against British colonial rule, doing everything they could to thwart continued domination. It is an interesting program if you have not yet seen it. There is a lot of revolutionary history presented with interesting art from the time. |
