The Gray Area with Sean Illing
The case for banning...millionaires?
Jan 29, 2024
Ingrid Robeyns, a political philosopher and economist at Utrecht University, argues for limiting personal wealth to combat inequality. She discusses the moral necessity of 'limitarianism' and how capping individual wealth could benefit not just the less fortunate, but even the super-rich. The conversation delves into the ethical implications of extreme wealth, the absurdity of billionaire fortunes, and the impact of wealth concentration on democracy. Robeyns highlights the need for progressive taxation and collective civic engagement for a fairer society.
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Quick takeaways
- Limitarianism proposes an upper limit on personal wealth, based on the harm caused by excessive wealth concentration.
- Wealth inequality undermines democracy and societal stability, necessitating limits on wealth accumulation and stronger anti-corruption measures.
Deep dives
Limitarianism: Imposing upper limits on personal wealth accumulation
Limitarianism is a view that there should be an upper limit on personal wealth accumulation, just as there is a poverty line. This is based on the moral argument that excessive wealth concentration leads to harm, such as ecological degradation and the undermining of democracy. Ingrid Robens proposes a political limit of 10 million euros in countries like the Netherlands, with a healthcare system and public pension support. Additionally, a personal voluntary limit of 1 million euros is suggested based on research indicating that beyond this point, increased wealth does not significantly enhance quality of life.
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