Charlie Munger achieved the vast majority of his wealth not by hoarding inelastic goods but by investing and reinvesting in dividend-paying stocks and bonds, vi

Charlie Munger achieved the vast majority of his wealth not by hoarding inelastic goods but by investing and reinvesting in dividend-paying stocks and bonds, virtual tokens representing liquid fractional ownership of productive enterprise. He can "hoard" those all he wants, and we all benefit from the greater levels of capital available to said productive enterprise. Now, if gold or other precious metals are necessary for the production of desirable goods, the hoarding of such assets increases the price of those goods in a zero-sum fashion. Of course, I'd never want to deny someone the pleasure of swimming in a pile of gold coins like Scrooge McDuck. I'm just saying that they shouldn't be able to profit as much off of keeping the pile locked away in their mansion. Rather, they should repay society for its losses in the form of a land value tax.