Societies make "a series of mistakes" when they allow the rich to grow super-rich . . .
. . .
When societies allow the rich to grow into the super-rich, they are making a series of mistakes. The mistake is not just that a class of super-rich are fundamentally undemocratic because they hold the polity ransom. The mistake is not just that a class of super-rich is fundamentally uneconomic because the super-rich hoard vast amounts of capital, starving the economy of investment and opportunity. The mistake is not just that a class of super-rich is fundamentally inequitable because it is essentially impossible that any human being has single-handedly truly created enough value to be worth tens of billions. The mistake is not just that a class of super-rich is fundamentally unreasonable because there is no good reason for anyone to want such extreme riches. The mistake is not just that a class of super-rich is fundamentally antisocial, for the super-rich will never have to rely on public goods in the same way that the merely rich still need parks, subways, roads and bridges.
All those are small mistakes. Here is the big one.
When societies allow the rich to grow into the super-rich, they are limiting what those societies can achieve.
Imagine a bountiful forest. And then — no one can say quite why — a small handful of the trees suddenly grow tall. Much taller. They became so tall and strong and broad that they block the sunlight from all the other trees. The other trees begin to wilt and wither and disappear. Their roots crack and split and turn to dust. And one day, not long after, even the roots of the tallest trees can find no water, can grip no soil. They begin to fall. Soon the whole forest becomes a desert.
THE REST:
http://billmoyers.com/2014/05/21/can-you-be-too-rich/
= new reply since forum marked as read
