Increase in billionaire wealth 1987 to 2022
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Nicola Acocella (Italy, University of Rome) Robert Costanza (USA, Portland State University) Wolfgang Drechsler ( Estonia, Tallinn University of Technology) Kevin Gallagher (USA, Boston University) Jo Marie Griesgraber (USA, New Rules for Global Finance Coalition) Bernard Guerrien (France, Université Paris 1 Panthéon-Sorbonne) Michael Hudson (USA, University of Missouri at Kansas City) Frederic S. Lee (USA, University of Missouri at Kansas City) Anne Mayhew (USA, University of Tennessee) Gustavo Marqués (Argentina, Universidad de Buenos Aires) Julie A. Nelson (USA, University of Massachusetts, Boston) Paul Ormerod (UK, Volterra Consulting) Richard Parker (USA, Harvard University) Ann Pettifor (UK, Policy Research in Macroeconomics) Alicia Puyana (Mexico, Latin American School of Social Sciences) Jacques Sapir (France, École des hautes études en sciences socials) Peter Söderbaum (Sweden, School of Sustainable Development of Society and Technology) Peter Radford (USA, The Radford Free Press) David Ruccio (USA, Notre Dame University) Immanuel Wallerstein (USA, Yale University)
In “On Vancouver’s Housing Crisis,” Michael Hudson said “junk economics” occurs when all the money flows to banks & real estate while the people are priced out. Through a land tax and a strengthened capital gains tax, the people could be reimbursed by a citizens’ dividend.
How long before a populist tax hater like Reagan, Bush, Trump gets elected and repeals the taxes because voters know taxes are about control not funding? If basic income is to last (and be more robust than Social Security in the US), must it be non-tax funded?
Answers the question of what purpose millionaires believe making economies should serve. To make them all billionaires. And to make the rest of us ashamed that we’re such a drag on these economic geniuses. Satire folks. Pure satire!