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Topic	Does the existence of multi billionaires make sense?
legendary_zell 11/08/19 5:40:29 PM #26:	konokonohamaru posted... The economic system wasn't "designed to create billionaires." It was designed so that people could freely transact with each other, without the government stepping in to tell them what to do, and to have clearly defined property rights so that you don't have to worry that people would just take and steal things from you. A byproduct of this system is that we have billionaires, because they now have property rights over their business which became many times greater than the product of their own labor I didn't say that it was designed to create billionaires. I don't think most people had any type of input on what type of system we have or have seriously thought about it. The vast majority of people throughout human history have lived within whatever system happened to be in place without really considering alternatives. But it seems pretty clear that the system is producing strange outcomes. If the system was truly designed to only be focused on non interference and not with how people actually live and how things are distributed, it's a failure. If it's assumed that unencumbered private transactions would lead to a rational distribution, that assumption is failing too. --- https://imgur.com/0Bi86cp <cite>legendary_zell posted [p:929862054] in Does the e... [t:78145330]...</cite> <quote>konokonohamaru posted...</cite> <quote>The economic system wasn't "designed to create billionaires." It was designed so that people could freely transact with each other, without the government stepping in to tell them what to do, and to have clearly defined property rights so that you don't have to worry that people would just take and steal things from you. A byproduct of this system is that we have billionaires, because they now have property rights over their business which became many times greater than the product of their own labor</quote> I didn't say that it was designed to create billionaires. I don't think most people had any type of input on what type of system we have or have seriously thought about it. The vast majority of people throughout human history have lived within whatever system happened to be in place without really considering alternatives. But it seems pretty clear that the system is producing strange outcomes. If the system was truly designed to only be focused on non interference and not with how people actually live and how things are distributed, it's a failure. If it's assumed that unencumbered private transactions would lead to a rational distribution, that assumption is failing too. --- https://imgur.com/0Bi86cp</quote> ... Copied to Clipboard!
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