Degrowth

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Discussions about degrowth and all sorts of related topics. This includes UBI, economic democracy, the economics of green technologies, enviromental legislation and many more intressting economic topics.

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UBS: More Billionaires inherited their wealth then gained it by entrepreneurship (www.ubs.com)

submitted 9 months ago by [email protected] to c/[email protected]

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Imho an intressting development in the completly wrong direction. However it shows the massive problem capitalism has, that it increases capital accumulation within a small group of people. It also is a strong argument against the idea of billionaires having earned their wealth.

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[–] [email protected] 6 points 9 months ago (1 children)

It is actually.

It used to be that the rate at which families rose and fell was such new money was the majority of rich people as most lost their wealth in a few generations.

The interesting implication of this to me is that it means rich people are going to be fighting each other more. As less new wealth pools in they’ll squabble at greater rates to access their families wealth.

Hopefully we see more trust fund babies murdering their parents going forward.

[–] [email protected] 5 points 9 months ago (1 children)

Maybe. Sometimes it seems like the only people who understand class solidarity are the absurdly wealthy

[–] [email protected] 5 points 9 months ago

That's because there are less of them. Much easier to convince a crowd of 100 than 1000.