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This is a rather poor article. In particular, it seems to imply that the wealthy are inherently rentiers. By the logic of this article, virtually all investors
by morgante 10y ago
This is a rather poor article.
In particular, it seems to imply that the wealthy are inherently rentiers. By the logic of this article, virtually all investors are "functionless investors" since they are not directly investing in a business by buying shares from the business. Of course, this neglects the fact that having a market for shares is in fact necessary for anyone to buy shares in the first place.
Also, it would be nice to have a definition of how exactly the wealthy are "dysfunctional." They seem to be pretty functional at accumulating wealth. But they're also pretty functional at expanding and building a wealthy society—Apple made Steve Jobs very rich, but it also made all of us a little wealthier as well.
As for justice, today's rich are more meritocratic than any in the past.