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The way I see it the super-rich were just lucky winners, a multi-billionaire had as much agency becoming such as the President of the United States. He is just
by JumpinJack_Cash 3y ago
The way I see it the super-rich were just lucky winners, a multi-billionaire had as much agency becoming such as the President of the United States.
He is just the lucky beneficiary of a great filter and unprecedented tail-wind which propelled him into the stratosphere of wealth.
If you expropriated Microsoft, Google, Apple, Amazon, Facebook etc. from the hands of billionaires and handed over the expropriated equity to Vanguard, BlackRock, StateStreet and the myriad of Pension Funds nothing would fundamentally change.
These big organizations run on autopilot, organization achieves a great success CEO shows up to take the honors, organization has a great failure and there is a whole apparatus put in place to distance the CEO as far as possible from the failure.
The most preposterous lie that wealthy people ever managed to sell to the population is that they are instrumental for the delivery of goods and services that people love, in fact the smartest among the wealthy (Gates, Buffet, Bezos etc) understand that this lie can collapse at any time and have pivoted towards a more secure lie being "yes the money is from the lottery winnings , but they are being returned at a steady rate to the population via philantropic foundations" except the wealth is untaxed and they decide the steady rate at which the returning is happening and by coincidence it's always steady but very slow and enables them to keep accumulating and so even if the descendants decide to keep their word it would take a dozen generations before it happens.