Oddbean new post about login | logout @c7179415 Do I really need to explain? Those (Murdoch and the Kochs) are also oligarchs—prime examples. They are people who exercise political power by virtue of their wealth. They convert riches into control over their fellow citizens. They compete with, subvert, and replace legitimate governments.
@58fbd252 thanks, I just wanted to highlight exactly that point, the language of "oligarchs" is political and the inference of criminality and corruption applies to pretty much every billionaire anywhere
@c7179415 I would agree that no billionaire “deserves” their wealth, but not all billionaires exercise political power. I don’t think George Soros does, though he donates much of his wealth to certain causes. Nor do I think Warren Buffett does. We don’t need to call them oligarchs, though we should tax them more aggressively.