Making Rich People Richer Doesn't Make The

Above A Certain Level Of Income, The Relative Value Of Material Consumption Vis-a-vis Leisure Time Is Diminished, So Earning A Higher Income At The Cost Of Working Longer Hours May Reduce The Quality Of Your Life. More Importantly, The Fact That The Citizens Of A Country Work Longer Than Others In Comparable Countries Does Not Necessarily Mean That They Like Working Longer Hours. They May Be Compelled To Work Long Hours, Even If They Actually Want To Take Longer Holidays.

In Manufacturing, Where Mechanization And The Use Of Chemical Processes Are Much Easier, It Is Easier To Raise Productivity Than In Services. In Contrast, By Their Very Nature, Many Service Activities Are Inherently Impervious To Productivity Increase Without Diluting The Quality Of The Product.

Equality Of Opportunity Is Meaningless For Those Who Do Not Have The Capabilities To Take Advantage Of It.

All The Alleged Key Causes Of Soe [state-owned Enterprise] Inefficiency - The Principal-agent Problem, The Free-rider Problem And The Soft Budget Constraint - Are, While Real, Not Unique To State-owned Enterprises. Large Private-sector Firms With Dispersed Ownership Also Suffer From The Principal-agent Problem And The Free-rider Problem. So, In These Two Areas, Forms Of Ownership Do Matter, But The Critical Divide Is Not Between State And Private Ownership - It Is Between Concentrated And Dispersed Ownerships.

The Top 10 Per Cent Of The Us Population Appropriated 91 Per Cent Of Income Growth Between 1989 And 2006, While The Top 1 Per Cent Took 59 Per Cent.