Why Young People Are Worse Off Than Their Parents — and What to Do About it (from TED Talks Daily)
Prof G Markets
Embrace Disruption for Wealth Reallocation
Churning and disruption within markets are essential for redistributing wealth from established players to new entrants, reflecting a natural economic cycle. However, the response to crises often prioritizes the protection of wealth for the already affluent, as seen in the recent interventions to prevent significant market downturns like the Nasdaq crash. While such actions aim to safeguard individual wealth, they inadvertently contribute to a greater transfer of wealth during events like the COVID pandemic, which paradoxically resulted in personal gains for some even amidst global challenges.
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