“Billionaires” existed before capitalism, they were just called “Kings” or “Lords” or “Emperors” or “High Priests” or whatever.
The difference is that with capitalism at least they’re producing something. Often they become billionaires because the regulations break down and they become monopolists. But, they’re still producing something and selling it to someone.
“Billionaires” of the past were rich because they won the parental lottery and inherited vast amounts of land, and the people that worked that land. Or, occasionally, because they won a war against someone else who held land and now owned the people that other “billionaire” used to own.
I’m not saying capitalism is a great system. But, it didn’t create wealth disparity. That has existed since even before agriculture. So, getting rid of capitalism isn’t going to get rid of billionaires because they’re a problem in every other system. In theory, you might not have billionaires under communism, but communism in theory doesn’t seem to work. In practice, it results in billionaires too. In theory capitalism shouldn’t have billionaires either because the government was supposed to regulate businesses to force them to continue to compete. But, wealth disparity is something that no political system has ever managed to actually get rid of.
“Billionaires” existed before capitalism, they were just called “Kings” or “Lords” or “Emperors” or “High Priests” or whatever.
The difference is that with capitalism at least they’re producing something. Often they become billionaires because the regulations break down and they become monopolists. But, they’re still producing something and selling it to someone.
“Billionaires” of the past were rich because they won the parental lottery and inherited vast amounts of land, and the people that worked that land. Or, occasionally, because they won a war against someone else who held land and now owned the people that other “billionaire” used to own.
I’m not saying capitalism is a great system. But, it didn’t create wealth disparity. That has existed since even before agriculture. So, getting rid of capitalism isn’t going to get rid of billionaires because they’re a problem in every other system. In theory, you might not have billionaires under communism, but communism in theory doesn’t seem to work. In practice, it results in billionaires too. In theory capitalism shouldn’t have billionaires either because the government was supposed to regulate businesses to force them to continue to compete. But, wealth disparity is something that no political system has ever managed to actually get rid of.