If we were talking about Europe in 1000, or most of the third world today, the standard misquotation would be spot on. - Paul Graham
" "If we were talking about Europe in 1000, or most of the third world today, the standard misquotation would be spot on.
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About Paul Graham
Paul Graham (born 1964) is an English computer scientist, essayist, entrepreneur, venture capitalist, and author. He is best known for his work on the programming language Lisp, his former startup Viaweb (later renamed Yahoo! Store), cofounding the influential startup accelerator and seed capital firm Y Combinator, his essays, and Hacker News.
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You need rich people in your society not so much because in spending their money they create jobs, but because of what they have to do to get rich. I'm not talking about the trickle-down effect here. I'm not saying that if you let Henry Ford get rich, he'll hire you as a waiter at his next party. I'm saying that he'll make you a tractor to replace your horse.
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I’d like to propose an alternative idea: that in a modern society, increasing variation in income is a sign of health. Technology seems to increase the variation in productivity at faster than linear rates. If we don’t see corresponding variation in income, there are three possible explanations: (a) that technical innovation has stopped, (b) that the people who would create the most wealth aren’t doing it, or (c) that they aren’t getting paid for it.
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