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What harm is there in the richest people being richer? If they hoard their money, they're temporarily increasing the value of everyone else's. If they spend it,
by Hondor 10y ago
What harm is there in the richest people being richer? If they hoard their money, they're temporarily increasing the value of everyone else's. If they spend it, they're trickling it back down to the poor.
- astazangasta 10y agoEasy: they appropriate a greater portion of humanity's productivity towards themselves. Wealth is power, the ability to express desire and recruit human effort to its fulfillment. When the rich have all the money, the poor cannot express their own desires and end up just working to satisfy the ends of the rich.
- Hondor 10y agoCan you give a concrete example? Something that I can't do now with all these super rich people around that I could have done when they weren't so much richer than me. If I'm competing with them to buy a Picasso, sure, they'll outbid me, but what about things I actually want to do, like buy equipment for my hobbies or go travelling. Are they making that more expensive?