Hacker News Reader

I thought the wealthy were job creators, captains of innovation, stewards of the future...

We'd be better off taxing these folks who can't find anything to invest in and redistributing the funds to the worst-off. The economic activity would inevitably be captured by these same ineffectual investors but at least the material situation of the poorest among us would be slightly better.

View on HN

This problem is not new, but arguably getting worse. So much capital out there, in the hands of so few people, and they have no idea how to deploy it productively. Their trillions could be used to start whole industries, build critical infrastructure, and pull millions out of joblessness. Instead, they unimaginarively loan it to the government or a bank for a negative real return.

The rich of the past built the modern world. Today’s rich seem to just sit on their wealth while inflation and missed opportunity erode all the value away.

That sounds like it'd be solving a different problem.

Reply on news.ycombinator.com