By Rod Driver
Global Research, March 29, 2021
David Rothkopfwrote a book aboutthe world’s richest people called Superclass. In it he noted that 161 people control $23 trillion, and that the incomes of the top 25 hedge fund managers are approximately $800 million per year each.(1) Other writers discuss the richest 0.1% of the population, who have incomes of over $2million per year in the US.(2)
They have coined the term Excessive Wealth Disorder to explain that when some people are too rich, this creates big downsides for many other people, and for society in general. This post discusses some of those downsides.
This postshould ideally be read in conjunction with earlier posts that explain that excessive wealth is extracted by controlling an industry, receiving many types of unearned income (known as rent-seeking) and all manner of unethical, fraudulent or criminal activity.Excessive wealth is a symptom…
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