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I believe this is missing the point. Both the way you can accumulate money and the stuff you can buy are determinant in saying whether billionaires are moral or
by afiori 7y ago
I believe this is missing the point. Both the way you can accumulate money and the stuff you can buy are determinant in saying whether billionaires are moral or not.
What I see here is an economy of scale and I am much more worried about the erosion of a middle class than with the presence of billionaires.
If I properly remember the reasoning about the effectiveness of the Gini coefficient what you desperately should try to defend is the possibility of upward mobility.
What cannot be denied is that the international market and freedom of services allowed an unprecedented economic boom, for this to stable across time you need to allow people to become rich (especially if money is counted as "projected prices of stuff that might never get sold" as for amazon).
You also need a strong social net so that weaker social classes are protected, but we should move away from the mentality that wealth is theft.