The Rise of the Deserving Rich

3 pointsposted 9 hours ago
by NewCzech
(economist.com)

4 Comments

ZeroGravitas

6 hours ago

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.

gruez

2 hours ago

But the article specifically brings up russian oligarchs as a contrast to "the Deserving Rich"?

ZeroGravitas

an hour ago

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.