I mostly ignore the billionaire demonization debate but an argument that they shouldn’t exist because their riches are primarily due to luck caught my eye Is there a coherent moral argument that society should confiscate the fruits of risky gambles?
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Paul, your assumption here is that all the rewards are monetary or measurable ("lop off the top"). Was Einstein a risk taker? There is an entirely orthogonal motivation: the creator seeks freedom of thought and action and the satisfaction in pursuing ideas to a conclusion.
If you read the essay, it's clear I'm only talking about the financial risk/reward tradeoff.
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So we agree then that financial rewards are only a part of what drives risk takers. Would you agree that contemporary American policy places too much value on that one aspect, and has enabled financial gamblers to capture gains by posing as entrepreneurs? Virus and host..
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That America cares more about money than scholarship? Sure. But nearly all states have.
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