Our world’s billionaires don’t merit either their billions, the economist Didier Jacobs suggests, or the right to claim we’re all somehow living in a ‘meritocracy.’
The moneymaking techniques today generating mega millions, global business analyst Sam Wilkin is making plain, almost all rest on schemes for subverting honest market competition.
In any society where great stashes of wealth amass at the top, philosopher Elizabeth Anderson reminds us, the wealthy will sooner or later see most of the rest of us as failures.
America’s 400 richest are collecting far more of the nation’s income than they did two generations ago — and paying Uncle Sam far less. To fudge these facts, pals of plutocrats are having to work overtime.
The lesson of the Reinhart-Rogoff affair: If we let wealth continue to concentrate — and corrupt every element of our contemporary societies — we’ll all end up crying ‘96 tears.’