I call this “limitism,” in which society sets limits on how much personal wealth a person can accumulate. Why should society limit excessive personal wealth? If we want to limit wealth so we can alleviate poverty, invest in public infrastructure, protect democracy, end climate destruction, and eliminate unwanted wealth, where should we draw the line ? To set political limits, every society must ask: What is the level of wealth at which a wealthy individual can significantly undermine democracy? This gives us political limits.

Source: Los Angeles Times January 29, 2024 11:45 UTC