Re:Problems with relying on billionaires to save us
by imtringued on Wednesday October 13, 2021 @03:27PM
(#28856392)
Drug cartels are successful as well.
The real problem is that legal work isn't being rewarded. Simply letting your money or real estate idle is a much better bet than actually investing it in an economy with slow population growth.
Re:Problems with relying on billionaires to save us
by robswc on Wednesday October 13, 2021 @03:36PM
(#28856527)
>Simply letting your money or real estate idle is a much better bet than actually investing it in an economy with slow population growth
Do you have anything that points to a majority of billionaires doing this?
Re:Problems with relying on billionaires to save us
by pjscott on Wednesday October 13, 2021 @03:51PM
(#28856763)
Wait, what? The asset classes with the highest rates of return over the past decade have all been equities, i.e. actually investing it in the economy:
https://advisor.visualcapitalist.com/asset-class-risk-and-re...
Letting your money sit idle has had much worse performance.
The biggest irony is that you'll chase the most productive and brilliant people away. Think of how many great scientists and intellectuals came from the Eastern bloc... or Germany during the rise of Hitler. They literally expelled some of their most brilliant and successful people, making the US (or whatever country they fled to) stronger.