American capitalism is run by millionaires, not billionaires

(economist.com)

13 points | by andsoitis 13 hours ago ago

12 comments

  • zug_zug 12 hours ago ago

    I feel like the title needs to be clarified -- the premise of this article is that they also found people with 25-50m who were causing corruption.

    So it should be called "Some Multi Milloinaires are corrupt too!"

    Doesn't mean that billoinaires aren't, because billoinaires obvious couldn't care less about your local car dealerships, they'd be operating at a much higher level (e.g. preventing the import of cars from China, forcing their nonsense stocks into your retirement account, being president).

    • 11 hours ago ago
      [deleted]
    • brianjking 11 hours ago ago

      yes, yes, yes.

  • pinewurst 13 hours ago ago
  • 1shooner 6 hours ago ago

    >Barrels of newspaper ink have, for instance, been spilled over the political influence of Elon Musk, who may soon become the world’s first trillionaire. Far fewer have been dedicated to explaining why most American states ban or severely limit carmakers, including Tesla, from selling vehicles directly to customers.

    This is a terrible example. Musk has changed the laws in 15 states to exempt Tesla specifically from these bans.

  • 11 hours ago ago
    [deleted]
  • Ancalagon 13 hours ago ago

    You mean except the billionaire in the presidency man-handling the oil crisis?

  • nobody77 9 hours ago ago

    People who are not a billionaire or millionaire are corrupt too. So boring the kids are still complaining about people who have more money than them.

  • tug2024 13 hours ago ago

    [dead]

  • GenericDev 7 hours ago ago

    [dead]

  • nobody77 9 hours ago ago

    People who are not a billionaire or millionaire are corrupt too. It's so boring the kids are still complaining about people who have more money than them. The only person that is keeping you down is yourself.

    • zeruch 9 hours ago ago

      " It's so boring the kids are still complaining about people who have more money than them" That's not what they are complaining about; they are complaining about them rigging the system further in their favor to the detriment of everyone else.

      There is a crucial difference there, and history easily explains why if one bothers.