In our unequal world in which wealth is transmitted intergenerationally, the happenstance of birth places a ceiling on what we can reasonably achieve. In such a world, ideals like the American Dream have become a fantasy.
https://evonomics.com/how-to-stop-rent-seeking-capitalism-wealth-creators-vs-wealth-appropriators/
@johnverdon Yup. I got to the part about how it's okay to have billionnaires because some of them really do something special to earn the money and I've tuned out. If that's amid their premise, there is nothing else in that article that will do anything but infuriate me.
@AskTheDevil Yeah I had those feeling too at that point - it is confusing - because it seems that is only a hypothetical - later he really focuses on inequality - as bad - and inheritance taxes as vital (this is key to mitigating 'rich people' - so it's not intergenerational)
Also he does a great job explaining Henry George's "Land Value Tax" - which is very interesting. I have a professor friend who's very big on Henry George as a reformer