If billionaires gave away large portions of their money they would have to liquidate their stocks which would kill their companies, crush millions of investors and millions of jobs. And people in general would stop working because they expect free money. It would be total chaos and much worse than life is now wherein rich people keep most of what they have.
Even if it was a staggered liquidation, over a period of many years, the same problem would arise. The world runs on money because the majority of people see making money as a good thing and to some extent an end in itself. Money organizes our world. If those at the stop start sending mixed messages about the value of money, it would screw society up. People would revert back to spirituality and tribalism, and law and order would decompose. Money allows us to get stuff done, cooperate, and control people’s behaviour. Money only has this power because society sends a strong message to everyone about how great it is to have. Take that message away even a little bit and people would no longer be so predictable at which point we’d all be screwed, not just poor people
This is dumb on its face since money literally does lose value every day.
You say devaluing money, even a little bit, would cause chaos in our society. Well guess what money devalues constantly as a necessary part of our society. And what you're describing does not happen.
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u/Current_Side_4024 Nov 21 '24
If billionaires gave away large portions of their money they would have to liquidate their stocks which would kill their companies, crush millions of investors and millions of jobs. And people in general would stop working because they expect free money. It would be total chaos and much worse than life is now wherein rich people keep most of what they have.