this post was submitted on 31 Oct 2024
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The economic system should not permit such extreme wealth accumulation. It is damaging to society.
But the question is: how? If you look at every other system that has been tried you see the same results or worse. Many systems just end up picking a different set of winners.
I’d like to try LVT because the arguments for it are pretty strong but you never know until you try it and see what happens. I’m far more concerned about mass homelessness and people struggling to afford rent than I am about billionaires. Unless of course those billionaires are corrupting the political system like Musk and Bezos are trying so hard to do.
But those issues are connected. Even billionaires who don’t go as far as Musk are still sucking up the political oxygen and disempowering marginalized people. They are buying up finite resources like land or prime real estate in city centers or media time and space.
I agree that the how is an important question but I think there are many options and it’s worth it to keep trying despite some past failures. Extremely high tax rates, decaying currencies or negative interest rates are some possibilities. Or just build an alternative free economy that doesn’t involve money. I’d like to try as many things as possible to see what works best.