This phenomenon happens even in simpler models, where it's easy to see that the eventual "winner" is only there through pure long-term luck, with zero distinguishing merit or intelligence etc.:

> If you simulate this economy, a variant of the yard sale model, you will get a remarkable result: after a large number of transactions, one agent ends up as an “oligarch” holding practically all the wealth of the economy, and the other 999 end up with virtually nothing.

> It does not matter how much wealth people started with. It does not matter that all the coin flips were absolutely fair. It does not matter that the poorer agent's expected outcome was positive in each transaction, whereas that of the richer agent was negative. Any single agent in this economy could have become the oligarch—in fact, all had equal odds if they began with equal wealth. In that sense, there was equality of opportunity. But only one of them did become the oligarch, and all the others saw their average wealth decrease toward zero as they conducted more and more transactions. To add insult to injury, the lower someone's wealth ranking, the faster the decrease.

https://www.scientificamerican.com/article/is-inequality-ine...

Depending on how you count things, the Yankees were founded in either 1901 or 1903, while the Expos were created in the 1968 baseball expansion and started playing in 1969.

Without reseting the score for every game, there is simply no way for the Expos (now called the Washington Nationals) to ever have equality with the Yankees. (well, ok, it is possible but is just plain never going to happen).

At the end of the last (American) football season, the Green Bay Packers beat the Chicago Bears, and in doing so passed the Bears for the most all-time wins in professional (American) football, which is the first time ever that the Bears did not have the most all-time wins. The Bears are one of the founding teams, and the Packers joined the league in the second season. If the Bears and Packers both won 0 games for 4 straight years, the New York Giants would catch up with both of them. But only if they won all 16 games every year. Then again, the Giants joined the league in its 5th year. Is there any reasonable situation in which a non-first-decade team manages to catch up? No: it would take a generation of spectacularly bad performance by all the old clubs while at the same time a newer club needs to be spectacularly good the entire time!

That original analogy was so good :)

I'm ideologically predisposed against centralization (including that of government), but I've still got to acknowledge the extreme slashing of tax rates that took place over the last several decades. Not only the income tax, but also the estate tax. Take a look back at the historical rates for both, and they're shocking compared to what we consider "high taxes" today.

These taxes were gutted under a pretend banner of limiting government, while government spending continued full steam ahead - including spending on mega subsidies to the financial industry by the federal reserve. Those taxes were all money that used to be recaptured by the government, now continually accumulating in private hands. The only reason we haven't had massive price inflation over the past several decades is that technological progress and outsourcing has made manufactured goods continually less expensive to produce. Instead the inflation has shown up in the "everything bubble", with asset prices mostly exempt from CPI, as ever-growing anti-productive wealth pools bid up ownership of our entire society.