A mega billionaire is, i think, considered to be 30 billion or more. And only one % of billionaires are mega billionaires. The reason that they have this much money is really that most, if not all, of these mega billionaires have created their wealth through technology. In 19 78, china had zero billionaires. Now it has the secondmost billionaires in the world. It's undeniable that technology and how everything has become more connected and yoe r leverage has enabled the proliferation of billionaires.
Wealth inequality has been increasing for decades, and recently, there has been a heightened focus on billionaires as we debate what to do about the concentration of large swaths of wealth in a few hands.
In this episode, Steph and Cal discuss whether or not billionaires should exist, common proposals for dealing with billionaires, and a few policy proposals for how we can start thinking about tackling wealth inequality.
Whether you find yourself saying, "billionaires are evil and don't deserve all that money", "billionaires deserve what they have earned", or "I don't care about billionaires, but I care about a world with more equality of opportunity," this episode is for you.
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