In a fair society, there would be no billionaires. Bernie Sanders says they shouldn’t exist and Elizabeth Warren sells mugs of their tears. I’m talking about billionaires and making the case that an economic system that allows them is immoral.
We have arrived at an obscene inequality crisis, in which wealth is concentrated in the hands of a powerful few, at the cost of crippling hardship, precarity, and compromised well-being for the many. When a single billionaire can accumulate more money in 10 seconds than their employees make in one year, while workers struggle to meet the basic cost of rent and medicine, then yes, every billionaire really is a policy failure. Here’s why.
