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There is nothing wrong with the people who have wealth, it is with people having so much wealth. Wealth is economic power; we split power in the government so i
by wfo 11y ago
There is nothing wrong with the people who have wealth, it is with people having so much wealth. Wealth is economic power; we split power in the government so it is not hyper concentrated in on person for very, very good reasons taught to us by history (power begets more power and corrupts, etc). Similarly we should be trying to split economic power. There's nothing wrong with someone having a lot of money; but there is something wrong with a person having more wealth than most of the nation combined. It's an enormous amount of concentrated power which is inherently bad in and of itself, whether it's used for good or ill currently.
And the primary method people use to get and keep this money is through exploitation and abuse generally of workers, tax systems, etc. Which is just icing on the cake beyond the original problem of wealth concentration.
Also we have the notion that people are being paid 300, 400, 1000 times as much as their employees. This is a lie; one person generally isn't worth 1000x as much as another. There are thousands of others who would be able to replace any person in any job with similar results. The money they get is through the manipulation of their wealth, power, and connections to make more, and the Rand-esque 'great man' fallacy where Americans assume industry is driven but supermen and women at the top who truly deserve what they are getting, and not primarily as a collective effort. When a company succeeds, where should the profits of that success go? The wealthy have up until now succeeded in enforcing a deeply capitalist system where all of the profits go to the wealthy and the least possible earnings are divvied up to the peasants who beg and struggle to be allowed to earn from their labor at all.
- natrius 11y agoI don't think we need to split economic power. I just think the people need to be able to reject economic power over them when they believe it is being misused. That's hard today because economic power is invisible. We can make it visible, then people can decide how they want to let economic power influence their lives. This is merit capitalism. http://meritcapitalism.com/ http://meritcapitalism.com/