alt Hacker NewsThe German left party has the stand that billionaires shouldn't exist. At first I thought this is a bit far fetched. But nowadays I think the sentence should go billionaires shouldn't exist in a democracy. Because obviously money is power, for example through lobbying. And these people accumulated a lot of power, which is completely undemocratic.
I get the sentiment and agree with it.
However, "gross wealth" ala billionaires needs instead to have a definition of bell curve based (statistical) analysis, and outliers above X standard deviations need to have economic sanction tools used against them. Doing this means that no matter how inflationary or deflationairy the currency is, we're measuring gross wealth by standard deviations of the mean, rather than some number that can and will be gamed.
And how the billionaires got their money is never by their work, but instead the mass extraction of millions of people and scraping over the top. Of course, when 'scraping over the top' involves piss bottles, injuries and deaths 3x higher than industry average, and more abhorrent things, yeah you need to fall. Hard.