I think the problem will solve itself when all the rich people leave for Mars.
I already see people like Bill Gates and Elon Musk as shameful failures of humanity.
Recently finished reading David Graeber’s Bullshit Jobs and in it he talks about asking the question who brings social value to society? A lot of rich people do not, especially the super-rich who largely get their wealth from exploitation and rentierism. Having a society that properly values socially-useful people would incentivise more socially-valuable action. Until the people defining what current society’s standard of success is move on nothing is going to change.
Unfortunately this will not happen that fast. The ultra rich are seen as a symbol of sucess because people associate themselves with those ultra wealthy folks, as being rich is considered a positive goal. The result is an indirect support to those rich people, who are celebrated for what they are.
I dare to say that 99% of people are closer to becoming homeless than to become an owner of a private island and a helicopter - and yet, people tend to think, that they might become rich as well (either through hard work or through luck), which is a more positive outlook than to think that they could easily hit rock bottom (the probability of hitting rock bottom is way higher tho). Because hypothetically, the opportunity for becoming as rich as those who they admire is given.
An anecdote: Back when I did work for minimum wage for a living (over 20 years ago), I had many coworkers who also did so. One time, the big boss (not ultra rich, but fairly loaded) came to visit the facility. He played some mind games and did some power moves. One of those was, that he parked his Maserati sports car pretty much in front of where our breakroom was, so that his car was definetly being seen by all the workers, instead of using the parking lot outside the facility.
About 90 % of the workers admired him for having such a car, and how cool he was and what not. Those people really believed that you could work yourself from the ground up to be as rich as the big boss. They did not recognize that he only could afford this car because he paid 7,50 an hour. And yet, he was celebrated for his “archievements”. And after all, a Maserati is just a Fiat with a fancy bodywork.
I had this idea: What if we criminalize extrem riches. It would deter people from endlessly accumulating wealth, if there is a legal limit. It will affect only the 1%. It will not be just towards them, but it is necessary. I believe its not the people who are corrupt, it is the power they have and its incentivis that makes them corrupt. Also, anyone who is currently extremely rich 💯 gained these amounts of riches through some form of exploitation (humanitarian or environmental). If you define exploitation as voilence inflicted, it would be more justified as well. This tiny change might force capitalism into a different direction or change to something different all together.
Disclaimer: I am no expert. This is an idea and my personal opinion, please take it as such.
