4 ms·
It seems to me that even here on HN, way too many people think in the binary "rich-poor" schemes. Ironically, what produces billionaires quite reliably, is pre
by inglor_cz 5mo ago
It seems to me that even here on HN, way too many people think in the binary "rich-poor" schemes.
Ironically, what produces billionaires quite reliably, is precisely the growing global middle class, which is now estimated to number around four billion. If 4 billion people can spend, say, 200 USD a month on various non-necessities, much of that enormous stream of cash will naturally flow to some big corporations producing universally demanded services and will make their main shareholders billionaires.
If Africa ever gets to the living standards of Asia, expect even more billionaires. Etc.