- by New Deal democrat
I got waylaid putting together a very detailed post about how the newly-widened Panama Canal is disrupting the internal US transportation network. When it goes up at Seeking Alpha, I’ll link to it.
In the meantime, here is something that I found a week or two ago for you to chew on. Over half of all US wealth is not earned but inherited:
It’s likely that about 25% of all wealth in the US is inherited of the top 1%. I strongly suspect the relationship is even more egregious at the level of the top 0.1% and top 0.01%.
It’s hard to argue that the US is at all a meritocracy when the starting points are so distorted.