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I like this point, but want to add that it's not a coincidence that people accumulate that much wealth.
by blurbleblurble 3y ago
I like this point, but want to add that it's not a coincidence that people accumulate that much wealth.
- jjoonathan 3y agoYeah. The risk of corruption doesn't just "remain" for wealthy politicians -- their investments give them a much more lucrative avenue through which they can get paid for policy and through which their well-heeled donors can monetize policy changes! A 10% chance of swinging a 001M position 10% is worth $10k. A 10% chance of swinging a 010M position 10% is worth $100k. A 10% chance of swinging a 100M position 10% is worth $1M. A 10% chance of swinging a 001B position 10% is worth $10M. A 10% chance of swinging a 010B position 10% is worth $100M. A 10% chance of swinging a 100B position 10% is worth $1B. To you and I, lobbying and politicking is an expense. To the rich, it is an investment with expected monetary return.
- HPsquared 3y agoHmm, so THAT'S why there is so much seemingly-random legislation being introduced all the time...
- jjoonathan 3y agoYep. It also explains a lot about the networking and social venues used by the wealthy. It's a completely different world with different rules.