If you press the button, the top 10 richest people in the world suddenly lose all their wealth. Also, everyone else loses $20 each (or a proportionate amount for poor countries).
Do you press the button?
Conversation
Replying to
No.
The top 10 richest people losing their wealth would do nothing to improve the lives of working people if that wealth is not redistributed. And losing $20 could literally destroy a lot of people's lives.
5
7
Replying to
So much of the top 10s wealth is tied to stock they own which they borrow against. Dropping them to 0 would cause the share prices of numerous companies to plummet and would cause a chain reaction in the economy. This would affect a lot of ordinary people in ways than just $20.
1
17
Replying to
What does "lose wealth" mean here? Does it mean lose resources or just zeroing out monetary values? Does it go to anyone else or just disappear?
1
9
Replying to
I read this like 5 times because I thought I was missing something. I literally can't think of a reason to choose yes. At my most leftist, when I was nearly a socialist, I would not have chosen yes.
5
71
Replying to
No. The 11-20 wealthiest people would have much less competition and would soon be indistinguishably wealthy from the old top 10.
4
Replying to
Yes, because wealth is not the same as money. If they simply lost the ownership of the means of production that will free it up for other purposes
2
4