What billionaires hoard is not resources, but socially constructed ownership chits -- money -- on the right to *allocate* resources in their own interest.
Right-libertarian rhetoric is premised on the assumption that these chits were obtained legitimately -- basically voluntary-washing.
Right-libertarian rhetoric is premised on the assumption that these chits were obtained legitimately -- basically voluntary-washing.
Reposted from
William Gillis 🏴
Libertarians tend to defend billionaires on the grounds that "they're not hording resources like in a giant money silo; they're investing them" and my response has long been, "yeah, they're functionally stalinist commissars, economic central planners, with all the knowledge problems entailed."
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