Oddbean new post about | logout
 "A few people get rich because they buy other people’s time and profit from it. Because they have a patent on a product that others urgently need. Because they buy a piece of land that increases in value and because society builds infrastructure around it. In the process, they destroy the environment to harvest the resources."

Do über-wealthy people earn that money? Deserve that money?

Great read...

https://kottke.org/24/06/how-to-give-away-a-fortune
#Capitalism #Money #Philanthropy 
 Thanks for sharing. I will check it out.  
 Respect to that woman! Very big of her, especially the /process/ she chose.

In theory, owners are compensated for the risk they take in buying other people's time, for doing the R&D that led to the patent, for tying up their money in land.

In places that actually exist, no one actually makes much profit that way unless they can make use of privileged access to political / regulatory power and information. 

Inflation is only one small part of the rent-seeking by the powerful.

Bitcoin doesn't fix all this directly, but it does as a weapon to de-fund the b*stards.

Respect again to that woman for opting-out, but, without fixing the system, the money donated will be recaptured...