Billionaires: they’re just like us except they are also rent seekers. https://shadowproof.com/2016/03/27/report-74-of-billionaire-wealth-from-rent-seeking/
The ladder of Demerit:
"…because rents do not compensate productive activities, redistributing them through taxes or regulation does not harm the economy, and could even boost economic growth."
If the 2208 Billionaires in the world dedicated all of their wealth beyond their first billion dollars to fight world hunger it would eliminate hunger for 25 years. Without relying on compound interest or other financial instruments.
Here's my math:
9.1 trillion captured wealth
-2.208 trillion for the billionaires to maintain a standard of living.
6.892 trillion / (0.267 trillion/year) ~= 25.8 years
With all due respect, but this is a somewhat naïve understanding of how money works.
@strand Money is nothing but a steering and controlling mechanism. Taking all the money from the rich and giving it to the poor would not solve world hunger. These 7 trillion are dead money that just provide power. What we should do is destroy it, not redistribute.
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