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But capitalism has imbibed the thinking - growth over everything. The environment is dying? Who cares, produce more, free markets will take care of the environm
by grwthckrmstr 9y ago
But capitalism has imbibed the thinking - growth over everything. The environment is dying? Who cares, produce more, free markets will take care of the environment.
Now apply this mindset blindly to a person with $10mn, $100mn, $1bn and so on..
Technically, they have "enough" to live comfortably for LIFE (and a few generations after them). But capitalism says GROW, so they will put their money somewhere that returns more than bank interest rates or government bonds etc. Because growth is imperative.
So, despite the extra wealth having zero marginal utility, the rich try to become wealthier because they are of the MINDSET that growth is the highest goal and nothing trumps growth.