increasingly impossible under capitalism for fundamental reasons
Most of capitalism, historically and today, is about preserving capital and making a small return. High-growth ventures are a minority, despite how it feels in tech.
In 1995 the richest person in the world was Bill Gates with $13 billion. Today there are 10 people who each have more than $130 billion (including Bill Gates), and 70 people who have more than $26 billion. Jeff Bezos himself has $200 billion (and this is after the divorce).
Inflation over the past 30 years (since 1995) is 105%--prices have doubled. Global wealth has doubled (inflation-adjusted) too. But these centi-billionaires are a whole new level.
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Most of capitalism, historically and today, is about preserving capital and making a small return. High-growth ventures are a minority, despite how it feels in tech.
In 1995 the richest person in the world was Bill Gates with $13 billion. Today there are 10 people who each have more than $130 billion (including Bill Gates), and 70 people who have more than $26 billion. Jeff Bezos himself has $200 billion (and this is after the divorce).
Inflation over the past 30 years (since 1995) is 105%--prices have doubled. Global wealth has doubled (inflation-adjusted) too. But these centi-billionaires are a whole new level.