Posts Tagged ‘Millionaires’

The USA, land of multi-millionaires

December 10, 2015

December-Too-Much-infographicSource: Too Much.

If you ambition is to be a millionaire or multi-millionaire, your chances are probably greater here in the United States than they are any place else.  The USA has more of them than any other country, and the number is growing.

The problem is that average and middle-class Americans aren’t doing so well.  According to the current neo-liberal philosophy, that is perfectly okay.  Winners should be rewarded, losers should suffer and rich people are (by definition) winners.

I hold to the older philosophy, which is that rewards should go to entrepreneurs and other successful people only because and only when they create things of value to the rest of us.

The justification for capitalism is that it is not a zero-sum game – that increasing the wealth of the rich does not necessarily make the rest of us poorer.  During the 1950s and 1960s, I thought this plausible – at least for Americans.  I don’t think this justification holds true for the USA today.