1% is a catchy metric, but i think it hides the scale of inequality. $32000/year or so puts you in the top 1%. It really ought to be more like 0.0001%, but it doesn't have quite the same ring.
So, the 62 richest own as much as the poorest 3,652,500,000. Gates and Buffet are interesting, with the philosophy of, give your kids enough to make something of themselves, but not so much they make nothing of themselves. The waltons on the other hand, are definitely shooting for dynastic wealth.
There's a (very) rare chance of getting super rich. There's a possibility of being the kind of person that wants dynastic wealth, so some percent of those super rich are going to have super rich families. Kennedy, Rockefeller, Mellon. But it tends to be dilluting after a while, there are thousands of DuPonts as far as i can tell.
I guess the point i'm making, some superrich will be effective in creating dynastic wealth (they have so far anyway) That, in and of itself isn't a big deal. All the wealth in the world is around $240 trillion. How much of that are we ok with being locked up in a dynasty or 10? How tall can that spike be and have a working economy? In the US the dynasts only control 500 billion or so, so maybe not a big deal, it's not that big of a slice of the pie.
i guess it's more like $550,000,000,000 but it was just a casual observation. The rest of the list probably averages around $3,000,000,000 , so another $550 billion there.
So, the 62 richest own as much as the poorest 3,652,500,000. Gates and Buffet are interesting, with the philosophy of, give your kids enough to make something of themselves, but not so much they make nothing of themselves. The waltons on the other hand, are definitely shooting for dynastic wealth.
There's a (very) rare chance of getting super rich. There's a possibility of being the kind of person that wants dynastic wealth, so some percent of those super rich are going to have super rich families. Kennedy, Rockefeller, Mellon. But it tends to be dilluting after a while, there are thousands of DuPonts as far as i can tell.
I guess the point i'm making, some superrich will be effective in creating dynastic wealth (they have so far anyway) That, in and of itself isn't a big deal. All the wealth in the world is around $240 trillion. How much of that are we ok with being locked up in a dynasty or 10? How tall can that spike be and have a working economy? In the US the dynasts only control 500 billion or so, so maybe not a big deal, it's not that big of a slice of the pie.
I dunno. It'll be interesting.