It is also (and it surprises me that this ancient observation is so little cited), a highly visible example of
"Power corrupts. Absolute power corrupts absolutely".
Watching at these people accumulate and hoard hundreds of billions of wealth, in a capitalist society where wealth equals power, and become ever more corrupt as they do so, simply demonstrates the point yet again. And we must suffer the consequences as they choose to corrupt the govt so they can accumulate more power instead of doing works to benefit all.
Just for some perspective, I once calculated what it means to be rich. I called it at spending at a constant average of USD$2500/day. With 'only' $20million yielding 5%, you have $2700/day without even touching principle. There is no level of basic and even luxury needs that cannot be met with that kind of spending. OK, you want more, how about spending $25,000 per day, EVERY day for the rest of your life? That takes 'only' $200 million.
Those people have hundreds of times the amount of money that could ever make a difference in their standard of living.
The point is that once you reach past these levels, more money literally makes no material difference in your standard of living. Hoarding more money is only about one thing, power.
As a society, we need to be doing something different.
jimbokun|3 months ago
toss1|3 months ago
It is also (and it surprises me that this ancient observation is so little cited), a highly visible example of
"Power corrupts. Absolute power corrupts absolutely".
Watching at these people accumulate and hoard hundreds of billions of wealth, in a capitalist society where wealth equals power, and become ever more corrupt as they do so, simply demonstrates the point yet again. And we must suffer the consequences as they choose to corrupt the govt so they can accumulate more power instead of doing works to benefit all.
Just for some perspective, I once calculated what it means to be rich. I called it at spending at a constant average of USD$2500/day. With 'only' $20million yielding 5%, you have $2700/day without even touching principle. There is no level of basic and even luxury needs that cannot be met with that kind of spending. OK, you want more, how about spending $25,000 per day, EVERY day for the rest of your life? That takes 'only' $200 million.
Those people have hundreds of times the amount of money that could ever make a difference in their standard of living.
The point is that once you reach past these levels, more money literally makes no material difference in your standard of living. Hoarding more money is only about one thing, power.
As a society, we need to be doing something different.