It is a truth more fundamental than Bayes’ Law that money will flow from the unclever to the clever.
Clearly the words of someone with a monopoly on the use of violence (in all its forms, not just head bashing but endless rules and laws configured to concentrate power and money). Money accumulates in the hands of those with the power to take it from those who lack that power. Only those with that power don’t see that.
I’d edit it to be something like “on an even playing field, money will flow from the unclever to the clever”, but.… you make a cogent point on how appropriate it is that royalty would not include such a qualification.
Not sure this contradicts the point the author is trying to make. In today’s society, the smart are often the powerful. Not always, there is definitely more nuance there, but I’d guess most agree where previously those with strength would accumulate power over time, it became those social and clever that accumulate power over time. Especially for a definition of intelligence that posits intelligence is your capacity to conform your surroundings to your will. At that point the only ingredient left is greed / ego and we’d see money (power), from the unclever to the clever 😬.
Clearly the words of someone with a monopoly on the use of violence (in all its forms, not just head bashing but endless rules and laws configured to concentrate power and money). Money accumulates in the hands of those with the power to take it from those who lack that power. Only those with that power don’t see that.
I’d edit it to be something like “on an even playing field, money will flow from the unclever to the clever”, but.… you make a cogent point on how appropriate it is that royalty would not include such a qualification.
Not sure this contradicts the point the author is trying to make. In today’s society, the smart are often the powerful. Not always, there is definitely more nuance there, but I’d guess most agree where previously those with strength would accumulate power over time, it became those social and clever that accumulate power over time. Especially for a definition of intelligence that posits intelligence is your capacity to conform your surroundings to your will. At that point the only ingredient left is greed / ego and we’d see money (power), from the unclever to the clever 😬.
WRT the point of the post, I’m not really talking about society at all, but rather, betting markets.