The era of trillionaires will be dire for democracy. Here is how we can fight back | Gabriel Zucman (opens in new tab)

There is a fundamental tension between extreme wealth and the very possibility of democracy. That’s because extreme wealth is always an extreme powerThe stock market listing of SpaceX has led to an outpouring of celebration, from Wall Street to Silicon Valley. Yet those who rejoice in ’s fortune surpassing the $1tn mark need to be reminded of a simple and vital truth: the mere existence of trillionaires is a major political and economic problem, probably the defining issue of our time.Simply ...