Thread by @fawfulfan

Billionaires are not automatically bad people.

But a single person having that much money is inherently too much power for even a good person to have. The very act of having so much money that nothing has a cost, is an ethical problem.

The reason billionairism breaks capitalism is that capitalism is based on the ability of ppl to lose as well as win. Billionaires have so many assets, and therefore returns, it's basically impossible for them to lose even if they make bad decisions for themselves or the economy.

If you or I behaved as Elon Musk or Donald Trump did with their money, scaled down to our wealth level, we'd be bankrupt in a year. They're hopelessly incompetent.

But they *literally can't lose*, because their capital appreciates faster than they can liquidate and spend it.

We need to recognize that it is inherently a moral problem that more working people don't have the wealth that billionaires currently have.

Not only would be of more utility to them, they would be more accountable to the market for using it inefficiently.