This is a problem with profit-maximization, or large corporations, or something, not billionaires — Facebook and Walmart would face the same incentives and do those same things even if their ownership were more distributed.
Well, we can see that corporations owned by everyone (public utilities) mostly don’t behave as sociopathically. They have other pathologies, but not so much this one. So, because everything is a matter of degree, I would assume that making ownership more distributed does make corporations less nasty. And the obvious explanation is that if you’re high above almost all people, that in itself makes you behave sociopathically. Power disparity between people is a kind of evil-in-itself, or a cause of so many evils that it might as well be. So I stand by the view that “no billionaires” is reasonable.
This is a problem with profit-maximization, or large corporations, or something, not billionaires — Facebook and Walmart would face the same incentives and do those same things even if their ownership were more distributed.
Well, we can see that corporations owned by everyone (public utilities) mostly don’t behave as sociopathically. They have other pathologies, but not so much this one. So, because everything is a matter of degree, I would assume that making ownership more distributed does make corporations less nasty. And the obvious explanation is that if you’re high above almost all people, that in itself makes you behave sociopathically. Power disparity between people is a kind of evil-in-itself, or a cause of so many evils that it might as well be. So I stand by the view that “no billionaires” is reasonable.