Billionaire Russian oligarchs starting a war is not an improvement in the market failure. It is in fact much much worse, even if they got poorer at the same time.
People do this a lot and count the money they made with their monopolies and not the money they destroyed by having a monopoly.
You'd expect better from something called The Economist.
Yes and their metric considers that things are "getting better" because those undeserving rich started a war and killed over half a million people and caused about 2 million causalities.
Their argument for why we don't need wealth taxes is partly supported by a bunch of super rich people causing widespread mayhem and so slightly reducing their own wealth.
https://archive.is/5VMHQ
Billionaire Russian oligarchs starting a war is not an improvement in the market failure. It is in fact much much worse, even if they got poorer at the same time.
People do this a lot and count the money they made with their monopolies and not the money they destroyed by having a monopoly.
You'd expect better from something called The Economist.
But the article specifically brings up russian oligarchs as a contrast to "the Deserving Rich"?
Yes and their metric considers that things are "getting better" because those undeserving rich started a war and killed over half a million people and caused about 2 million causalities.
Their argument for why we don't need wealth taxes is partly supported by a bunch of super rich people causing widespread mayhem and so slightly reducing their own wealth.