We don’t need billionaires, and we can structure the market so we don’t have them (opens in new tab)

from Dean Baker The Economist gave us a classically sloppy piece last week, telling us that we need the mega-wealthy types like Elon Musk and Mark Zuckerberg. The argument is largely tautological. It points out that the mega-rich have been responsible for the diffusion of important technologies. There is considerable truth to that, but this is because we […]