This author doesn't realize that 'people' don't care if someone is a billionaire if they became one by taking risk themselves. Yes, people will rightfully shit on the ones who inherited their wealth or achieved most of their success through backroom regulatory dealings but elon musk parlayed his whole lifetime earnings into Tesla and SpaceX while the US government printed money to subsidize investment banks and mortgage lenders. Did 'public' sector or 'private' sector generate the more useful innovation? I'm all for the rule of law and at the local level it makes sense to have democratic government. The most obvious trend in this era is that centralization of power is bad but most of it has occurred through politicians who are out of touch with the people they represent who live 1000s of miles away from them + central bankers manipulating interest rates and preventing an actual free market that would let shitty companies go bankrupt. So when people poo on where much of the world has arrived in wealth disparity, they should blame crony socialism in the public sector rather than free market capitalism (which to date only exists on the internet and in crypto). Instead governments are demolishing the currency employees get paid in to subsidize shitty companies and inflate asset prices. And that process is mostly not run by billionaire but by elected and appointed bureaucrats.... This writer has the nuance of a fart joke.
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