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Friday, July 30, 2021

Duh

There is now research to show that the rich get richer. It is another exercise in obviousness

By: Editorial |
Updated: June 17, 2021 8:07:57 am
The report by the global think tank, Institute of Policy Studies, also found, in sum, that the best way to get rich is to inherit your money.

Karl Marx said it first. But then, he was a communist. A few centuries later, the leader of the richest country in the world, the headquarters of world capitalism, said it. But even before Joe Biden slammed trickle-down economics last month, most working people have always known it. Yet, despite the fact that it’s obvious, research has been necessary to conclude that during the pandemic, as always, the rich have gotten richer. The report by the global think tank, Institute of Policy Studies, also found, in sum, that the best way to get rich is to inherit your money. Duh.

To be sure, this report is hardly the first and will certainly not be the last exercise in obviousness. In fact, it is probably peer-reviewed, employs robust methodology and has been worked on by serious men and women with doctorates with a slew of young researchers assisting them. Given the penchant for pointlessly wasting resources, there are other areas that require urgent attention. How many poor dancers do indeed exclaim, “the porch is crooked!”, a la naach na jaane aangan tedha? Is a penny saved really a penny earned, or does it depend on the volatility of your investment instruments? How many Jacks have seen a marked decrease in cognitive functioning because they are workaholics?

The popular research industry — like so many others — is judged by its output. And the problem with an age of excess — so much media, demanding constantly to be fed “content” — is that servicing quantity comes at the expense of quality; easily-digestible tidbits, with click-bait headlines that masquerade as knowledge and insight. But maybe this is just an analogue lament in the digital age from those too caught up in the faux seriousness of the old world to appreciate that interesting knowledge can come from anywhere. There’s one way to find out: Perhaps a double-blind study to ascertain if the grapes are, indeed, sour.

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