In the book "Fortune's Formula" by William Poundstone he discusses the mathematics of roulette. A well written exposition. It seems that after 100 plays of roulette about 60% have won a little bit and 40% have lost everything. This ratio ensures that the game is perceived as enjoyable by the majority of the people playing even though 40% come away from the tables losing almost everything. This is exactly like property ownership in USA America. If 60% can be maintained in their homes, it does not matter how the lives of the other 40% are destroyed. The government will always be perceived by the majority as beneficent when in fact it is not.
copyright (c) 2016
William Schaeffer
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