A wealth tax is one of the best proposals, but it needs to be implemented at a global level. The idea that other countries have oligarchs is "a myth," says Ben Affleck. There's an increased interest in trying to measure this level of rent seeking - economists do want it measured moris. Maximum wages and proportionality between what low paid workers earn and see e os earn an executive individuals are also good approaches.
Reportedly the planet's richest person, multibillionaire Elon Musk is currently seeking to buy the World's online public square, Twitter. Should billionaires be able to buy so much influence? For this week's Sunday Debate we revisit a discussion from 2021 investigating just that, when we invited Professor Linsey McGoey of Essex University and Ryan Bourne of the Cato Institute go head to head on whether society should tolerate the existence of billionaires. The debate was chaired by Economics Editor at BBC Newsnight, Ben Chu.
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