Billionaires: Where the Philosophy of Capital Breaks Down
And why only a system overhaul can make them obsolete
The idea behind the capital seems rather straightforward at first: your labor is exchanged for goods and services by using an intermediary form of storing value, money. How much your labor is worth is determined by the general consensus of people, formally called a market.
So far, it sounds decent enough.
However, an interesting question that occurred to me is whether the existence of billionaires, hoarding unfathomable amounts of wealth, actually makes any sense in the broader context of the capitalist philosophy.
Thus, in this article, I set out to explore how the idea of capital breaks down when pushed to the extreme limits of late-stage capitalism. I will refer to the most agreed-upon ideas of the right to demonstrate how these by-products of the system don’t make sense even in the context of their own conceptual background.
Tag along, it’s gonna be a fun ride!
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