First of all lobbying and any other intrusion into fair competition is incompatible with free market.
As for the “rich” — without government enforced monopolies, their wealth is a representation of how much value they provide to society. Which roughly translates into their support by society. A bit like representative democracy, but more decentralized.
By that logic, thieves are virtuous and valued by society. In reality, the wealthy are creating value for themselves and their peers, and we operate on a system more like $1 = 1 vote, rather than 1 person = 1 vote. This system is usually called a plutocracy.
By that logic, thieves are virtuous and valued by society.
Thieves are forced to return what they stole, they don’t (usually) accumulate capital
In reality, the wealthy are creating value for themselves and their peers
Could you please provide an example? Even something like Apple products (luxuries) are used by people that can’t be called rich. So it’s hard for me to understand how wealthy could create their separate economy
Depends on your definition of theft. I define theft to include the net profits that are not shared with the workers.
how would you describe their separate economy…
Most of us don’t get to participate in IPOs and hedge funds. The capital needed for that has been stolen from us by people who refuse to share with us the fruits of our labor.
First of all lobbying and any other intrusion into fair competition is incompatible with free market.
As for the “rich” — without government enforced monopolies, their wealth is a representation of how much value they provide to society. Which roughly translates into their support by society. A bit like representative democracy, but more decentralized.
By that logic, thieves are virtuous and valued by society. In reality, the wealthy are creating value for themselves and their peers, and we operate on a system more like $1 = 1 vote, rather than 1 person = 1 vote. This system is usually called a plutocracy.
Thieves are forced to return what they stole, they don’t (usually) accumulate capital
Could you please provide an example? Even something like Apple products (luxuries) are used by people that can’t be called rich. So it’s hard for me to understand how wealthy could create their separate economy
Depends on your definition of theft. I define theft to include the net profits that are not shared with the workers.
Most of us don’t get to participate in IPOs and hedge funds. The capital needed for that has been stolen from us by people who refuse to share with us the fruits of our labor.
“But you work for a wage that you agreed to take”
Because the other option is to starve to death.
That’s pessimistic… Food can be grown…
How businesses would innovate without accumulating capital? What happens if they suffer a loss? What would they pay their workers?
IMO it’s not theft, it’s just a price you’re paying for someone else to deal with risc possible losses while providing you stable income.
Not talking about reserch, marketing and realization of goods/services, that someone without capital can’t do on their own.