While it's tempting to just say we're going to cap wealth, it's not actually that easy to do. For one thing, most billionaires are not people, they are corporations. But the same concerns apply to concentration of wealth in corporate hands as they do in personal hands. The better strategy is to fix the various laws and policies that reward wealth for the sake of wealth. There is a lot of potential leverage in corporate governance and ownership, which underpins not only corporate wealth but often personal wealth as well. Real estate is another high leverage point. By setting appropriate boundaries in these two key areas, we could make it much more difficult for someone to accumulate wealth simply because they have wealth. And that's really the root of the problem. At some level, people add less and less value for the wealth they accumulate. Contrary to popular belief, they're not cheating the system, but simply taking advantage of what the system allows them to do.
While it's tempting to just say we're going to cap wealth, it's not actually that easy to do. For one thing, most billionaires are not people, they are corporations. But the same concerns apply to concentration of wealth in corporate hands as they do in personal hands. The better strategy is to fix the various laws and policies that reward wealth for the sake of wealth. There is a lot of potential leverage in corporate governance and ownership, which underpins not only corporate wealth but often personal wealth as well. Real estate is another high leverage point. By setting appropriate boundaries in these two key areas, we could make it much more difficult for someone to accumulate wealth simply because they have wealth. And that's really the root of the problem. At some level, people add less and less value for the wealth they accumulate. Contrary to popular belief, they're not cheating the system, but simply taking advantage of what the system allows them to do.
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