Re:“People simply empty out”
by scotty79 on Friday August 16, 2013 @12:45AM
(#6222213)
Yes. Money is just a way of figuring out how much of the economical output of the whole system each money holder can use. By hoarding money rich don't do much harm.
The problem is not that they have a lot of money. The problem is what they do with the money. Of course it's not all bad. There are things that rich people made that benefited everybody, but I'm guessing most such things were created on the way to getting rich.
But because they have so much money they can hoard resources. And they do to earn more like so: http://www.nytimes.com/2013/07/27/opinion/goldman-sachss-alu... They also hoard food: http://www.dw.de/germanys-dz-bank-ends-food-speculation-trad... They also can hoard companies. Buy them and harm them. This happens to most acquired startups.
The problem is not that they have a lot of money. The problem is what they do with the money. Of course it's not all bad. There are things that rich people made that benefited everybody, but I'm guessing most such things were created on the way to getting rich.