Smart billionaires are worried. They see their own their own futures being endangered by the dumb billionaires. Those who got rich by paying attention to trends — like Silicon Valley entrepreneurs… and Warren Buffett… are starting to see a truly scary prospect on the horizon. Torches and pitchforks. Or one word that says it all (look it up).
The dire, freedom-wrecking consequences of wealth disparity were discussed long ago by Adam Smith. They were the root cause of both the French and American revolutions — one of which resolved the situation with moderation, the other with pain. And the tradeoff is starkly portrayed in an article by billionaire Nick Hanauer, on Politico.
“Our country is rapidly becoming less a capitalist society and more a feudal society. Unless our policies change dramatically, the middle class will disappear, and we will be back to late 18th-century France. Before the revolution.” This kind of “smart billionaire” will be our secret weapon, in the fight for our Great Experiment to continue.