Inequality Is Outside Your Locus Of Control

Inequality is outside of your locus of control.

There will always be winners and losers.

New Zealand has relatively high social mobility and reasonably flat income distribution because of the ease of access to higher education.

This isn’t an election issue.

Worry about things you can actually control – like your skills.

The literature and evidence is quite clear that there is a shift towards substantially higher compensation over time for people whose skills are complementary to capital instead of substitutable by capital.

The obvious answer is to do whatever it takes to become a complement and not a substitute. There’s this thing called the internet with free learning resources there for the taking. But in order to take advantage of that more people will need to get off Facebook and Candy Crush and get to Coursera or Khan Academy.

Read more:
Interesting perspective on robo-advisors

Robo-advisors differ from normal financial advisors in three main ways: they manage your portfolio primarily through automated software (rather than...

The streetlight effect, inertia and house prices

The streetlight effect or "drunk's search" is a bias where people only look for things where it's easiest to look...