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The rich do not achieve anything on their own. They do so by employing a lot of labour and natural resources. And we know for a fact that the rich have dispropo
by kiliantics 6y ago
The rich do not achieve anything on their own. They do so by employing a lot of labour and natural resources. And we know for a fact that the rich have disproportionate influence on regulation of labour practices and resources, skewing it drastically in their favour.
If we all worked together to make the world better, why should only a few benefit so much?
- ctdonath 6y agoIf you improve the lives of others (including by creating employment and reasonably leveraging resources), fair reward to reap a fraction of that improvement. Improve lives of billions, reap billion$.
- mijamo 6y agoThat would be true if income was proportional to your added value to blowback wellbeing. I would welcome a citation on that but to me it does not seem like that would hold at all. The greatest minds of the past centuries and the ones who contributed to the progress you are talking about were not billionaires, and for some of them were even quite poor. Your wealth depends on what you can extract from the market and what you can extract from the past wealth of your family. If I inherit 1 billion dollar and place it in the SP 500 I will increase my wealth progressively compared to basically everybody, but my productivity is 0. The state could have taxed my inheritance 100% and done a similar investment with the same effect to the economy except inequality would be lower instead of higher.
- kiliantics 6y agoThe "fraction" of the reward that the investor/owner/manager receives compared to the person doing the actual work has become outrageously high though. And the destruction of natural resources has gotten ever cheaper/less penalised and its effects foisted on the world's poor with no recompense.