| Transference in this case can be otherwise known as economic rent. merriam-webster definition:
"the return for the use of a factor in excess of the minimum required to bring forth its service" [0] Think of those companies that have % take on the output of others by providing a market. Yes, they provide a service, as you say "The rich will sell you things they created". But the arrangement allows them to extract more than it costs. That extra over and above doesn't provide extra value. It is "rent". To be clear, at no point have I accused billionaires of illegal acts. Mind you at that scale they can influence what is legal or not, regulated or not, tariffed or not. Example, see Apple's award to Trump for tariff exemptions. Their acts impact the economy and how money flows. The accusation being a large chunk of their wealth is via rent than wealth creation that benefits everyone. Now, to a business person, this is simply good business! Maximising profit on output! But from a society wide economic point of view, there can be too much of a good thing. Sentiment-wise, the poor and middleclass want to be able to get rich too. But now it seems as though the multibillionaires will make that impossible as they seek to suck up every last dollar. [0]https://www.merriam-webster.com/dictionary/economic%20rent Edit: flow and shorter... and then added more sorry. |