Is "billionaires getting lots of children" a good method to distribute wealth?
133 sats \ 3 comments \ @tomlaies 7 Jul 2022 bitcoin
Today it came out that Elon has 2 more kids than we thought.
Splitting his 100 or 200 (until then maybe more) dollars between 9 kids will still make then way way richer than normal upper class.
I was thinking about how there are hundreds of Rockefeller descendants now and they are just normal rich. The same could happen to Elons kids if they blow it all on coke and hookers and have lots of kids themselves.
Idk it just feels like an uncontroversial and very "natural" way to distribute wealth back to the population and lots of the Gates and Bezos and Buffets of the world are pretty old. Will we see a few great, peaceful, natural redistribution events in our lifetimes?
On the other hand I do not remember any "great, peaceful, natural redistribution" after Rockefeller and before the tech people became uber rich.
So maybe the accumulation under fiat is always greater than the redistribution via inheritance? Is this like a law of physics? Would the waves be smoothing slowly under hard money?
What do you think?
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40 sats \ 0 replies \ @chinwenwencha 7 Jul 2022 freebie
For this to make a significant change I'd assume that people like Musk should have lots of children but also their children to have lots of children of their own and so on for few generations. The wealth disparity is so big that I don't think we could see any real impact in the near future. And also, as you said, the new rich generation could be made out of nowhere just as happened with the tech boom.
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5 sats \ 0 replies \ @k00b 7 Jul 2022
It's not a huge distribution but it would split it up and you'd expect their spending to be pretty diverse.
No wealth is destroyed by rich people hodling though ... it's only when poor people are being stolen from (given cantillion effects) that redistribution becomes necessary and even ethical imo.
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5 sats \ 0 replies \ @senf 8 Jul 2022 freebie
"Splitting his 100 or 200 (until then maybe more) dollars between 9 kids will still make them way way richer than normal upper class."
I know you mean billions of dollars there, but the idea of Elon's wealth been 100-200 dollars from your literal comment is amusing to me.
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