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Why shouldn't they exist? Are you really claiming that by accumulating certain amount of health you become harmful to society? If that is the case what would be

by tirant 6y ago

Why shouldn't they exist? Are you really claiming that by accumulating certain amount of health you become harmful to society? If that is the case what would be that amount that you mention? $1,000,000,000 and what about $990,000,000? The accumulation of wealth by a single individual is not inherently harmful for society, it all comes down to the intention for which accumulation happens and how is that spent.

concordDance 6y ago
Accumulation of wealth by a single individual is a very inefficient distribution of resources (from a maximizing utility perspective) due to the diminishing value of each additional $.
- tirant 6y ago
  That's a very strong assumption to make. Because you are putting a limit on the capabilities of an individual and the cost of the problems and projects thet may work on.
- fidelramos 6y ago
  I don't think the accumulation is inefficient per se, it would depend on what the individual does with that wealth. Bezos or Musk invest that capital in productive enterprises, which arguably benefit society. Edit: typo.
piva00 6y ago
Accumulation of wealth can never be analysed in its own vacuum, because it does not exist in a vacuum. Present day accumulation of wealth creates a huge power imbalance, billionaires are citizens, just as I am, why should they have more power, as a citizen, than I do? If you defend that billionaires should exist then, in my opinion, it's required to design a way to protect the rest of society from this class of people amassing more and more power. The problem isn't money, it is our power structures. Right now, being a billionaire is almost inherently bad, every billionaire is a policy failure.
- tirant 6y ago
  Why shouldn't billionaires have more power than you? I assume that you come from a western country, and presumably you work on Engineering or IT industry. Based on statistics we can easily assume that you belong to the 1% richest population of the world. Are you willing to give up on your wealth? If not, why should a billionaire then? Besides that, hierarchies of power exist outside of realm of money. And they are a natural occurrence. You will not only find billionaires with more power than you, but also a lot of other citizens that belong to these other hierarchies that have achieved their power via their competence. Power in itself is not dangerous or undesirable, power that becomes tyrannic is. What is more dangerous is inequality, specially inequality of opportunities. Certainly some times of inequalities of outcome can also be dangerous in certain situations if not kept at check, basically because they may become a source of violence.

by tirant 6y ago

concordDance 6y ago

Accumulation of wealth by a single individual is a very inefficient distribution of resources (from a maximizing utility perspective) due to the diminishing value of each additional $.

tirant 6y ago
That's a very strong assumption to make. Because you are putting a limit on the capabilities of an individual and the cost of the problems and projects thet may work on.
fidelramos 6y ago
I don't think the accumulation is inefficient per se, it would depend on what the individual does with that wealth. Bezos or Musk invest that capital in productive enterprises, which arguably benefit society. Edit: typo.

piva00 6y ago

Accumulation of wealth can never be analysed in its own vacuum, because it does not exist in a vacuum. Present day accumulation of wealth creates a huge power imbalance, billionaires are citizens, just as I am, why should they have more power, as a citizen, than I do? If you defend that billionaires should exist then, in my opinion, it's required to design a way to protect the rest of society from this class of people amassing more and more power. The problem isn't money, it is our power structures. Right now, being a billionaire is almost inherently bad, every billionaire is a policy failure.

tirant 6y ago
Why shouldn't billionaires have more power than you? I assume that you come from a western country, and presumably you work on Engineering or IT industry. Based on statistics we can easily assume that you belong to the 1% richest population of the world. Are you willing to give up on your wealth? If not, why should a billionaire then? Besides that, hierarchies of power exist outside of realm of money. And they are a natural occurrence. You will not only find billionaires with more power than you, but also a lot of other citizens that belong to these other hierarchies that have achieved their power via their competence. Power in itself is not dangerous or undesirable, power that becomes tyrannic is. What is more dangerous is inequality, specially inequality of opportunities. Certainly some times of inequalities of outcome can also be dangerous in certain situations if not kept at check, basically because they may become a source of violence.