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Rather we do have some idea what they do with their time and money: influence politics, lobby for regulatory capture, lobby against societally beneficial regula
by AnIdiotOnTheNet 5y ago
Rather we do have some idea what they do with their time and money: influence politics, lobby for regulatory capture, lobby against societally beneficial regulation, bust unions, rent-seek, astroturf, form monopolies and oligopolies, have outsized carbon footprints, avoid paying anything back to society, commit crimes and get away with them, etc.
We see them as mustache-twirling villains because, well, they act like mustache-twirling villains.
- pmoriarty 5y agoThey also form dynasties of generations of extremely wealthy children, grand-children, and grand-grand-children, etc. It's arguable whether the people who originally accumulated all this wealth "earned" it (when many of them in large part merely took the wealth their employees made), but their descendants who just inherit their money certainly have in no way earned it. So should they get to keep it? For an insightful look in to the world of inherited wealth, see the documentary Born Rich[1], made by the heir to the Johnson & Johnson fortune, where he interviews all his other friends, who, like him, were born in to enormously wealthy families. [1] - https://www.youtube.com/watch?v=1sD3pG74Wv8 https://www.youtube.com/watch?v=1sD3pG74Wv8