That’s not how wealth works though. Billionaires don’t literally have tens of millions of $100 notes in their hands. So where is all that money? Almost all of i

That’s not how wealth works though. Billionaires don’t literally have tens of millions of $100 notes in their hands. So where is all that money? Almost all of it is in the form of shares and bonds, which represent control of and investments in the economy. The control is in the form of deciding what products are produced, where and how. Those investments create jobs and produce goods and services. Bill Gates and Warren Buffet don’t have huge money piles in warehouses. Their wealth is active in the economy. Wealth is actually economic control. The people who have it run large chunks of the economy. Historically there have been two answers to the question of who do we want running most of the productive forces in the economy and directing investment in it, private citizens or politicians and government bureaucrats? The former is capitalism and the latter is socialism. Even the Chinese Communist Party eventually went with option 1. Who should run Microsoft or Ford, investors and professional managers, or the federal government? Actually there is another option, Russian style oligarchy. That’s what real corruption looks like. Every system has some corruption and waste, the question is how we manage and limit that.