11–20 of 51 posts
“Around 800 children will die of malaria today. A small group of super rich people could stop it for a sum of money so small that they would likely never even notice its absence. But they choose not to.” Brutal. The theoretical appeal of capitalism is that it allocates resources efficiently, is it not? Can someone explain to me how letting all these children die of malaria is efficient, given the cost/benefit of elim…
Feels like the author keeps making this point over and over that if we could just take x million from these people we could fix so many things. But I don’t see any vision painted for this new world where now everything is OK and fair. Maybe the current system we got is what makes people build things like amazon. Maybe jeff gets to be proud of his wealth and makes his own philanthropy choices.
I have a hard time feeling like large-scale preventable deaths of six figures of real human children is worth Jeff Bezos’ warm tummy fuzzies he gets when he thinks about being unfathomably rich. Instead of thinking about whether innovations like Amazon would have materialized in this brave new world where people can actually get their malaria treated and have access to clean drinking water, consider: how many people might have made something just as game-changing as Amazon, but died a preventable death, or lived on, but weren’t given the same resources to survive and thrive as someone like Bezos?
Feels like the author keeps making this point over and over that if we could just take x million from these people we could fix so many things. But I don’t see any vision painted for this new world where now everything is OK and fair. Maybe the current system we got is what makes people build things like amazon. Maybe jeff gets to be proud of his wealth and makes his own philanthropy choices.
What’s mind-boggling is that Bezos is still a billionaire after all of the suggested changes. The amount this affects his day-to-day life is slim to none. He’d still get to be proud of his wealth in the new system! I have a hard time feeling like large-scale preventable deaths of six figures of real human children is worth Jeff Bezos’ warm tummy fuzzies he gets when he thinks about being unfathomably rich. Instead of…
1. Usually these comparisons imply that the super rich have a major chunk of their wealth sitting as cold hard cash. That's hardly the case. Most of the wealth is in assets or illiquid forms. Take Bezos for ex, a good chunk of his wealth is in AMZN stock. If he sells all of it to fund a philanthropic scheme, that'd trigger a massive selloff in the stock market and impact a lot of people negatively. Not saying that they're helpless, but I think they may be doing some good with all the excess cash that we may not be aware of.
2. From a logistics point of view, it's hard to ensure that money intended to help someone reaches them. Unless you are personally delivering the money, there'll be middle men who take their cut. If a billionaire decides to spend a billion dollars on charity, I'd think a bunch of orgs would want that money, to do charity as well as run their non-profit operation. Which would make it appear that not enough is being done by the billionaire, when it is employing a few and benefiting some more.
It's in the interest of the super-rich to advocate for a strong social safety net to prevent millions of hungry people with nothing to lose from taking what they need instead of waiting for it to be shared. ...at least until they can build a colony on Mars or something?
Someone might as well set up a gaming site called How to Become A Billionaire. Simply paid the cheapest amount of money to set a a company somewhere, issues a billion shares and get someone to buy one share for a dollar.
While I do agree on the world in large has inequality problem. Focusing on the ultra rich doesn't fix it.
This is often the problem I see with people mixing up Wealth and Income . A person with $100K income could also have millions of wealth or asset from stocks to property. Jeff Bezos has most of this wealth from Stocks. And I am willing to bet $100 given the current market cap and PE or PEG, his resignation from the company and liquidations of his Amazon Asset will trigger a sell off that its value differs quite a lot…
Feels like the author keeps making this point over and over that if we could just take x million from these people we could fix so many things. But I don’t see any vision painted for this new world where now everything is OK and fair. Maybe the current system we got is what makes people build things like amazon. Maybe jeff gets to be proud of his wealth and makes his own philanthropy choices.