> Because the rich are getting richer, and hoarded money is useless to the rest of society.
That´s it. Once there is too much super-rich capitalism stops working, as decisions are not an average of million of small transactions, but it is a centralized economy decided by a few.
Also, the rich spend more money in luxury items that have no return value. A garage with 10 Ferraries doesn´t produces almost anything, it is wasteful. For the same cost you get 200 cars that allow workers to get to their jobs, go shoppping, etc. The same goes for an "iceber manssion" on London vs an apartment building.
And that wealth also creates corruption. So much money on so few hands creates an unchecked source of power. Why do you want to serve the public, that has no extra money to spend on you, when you can serve the elite that has more resources that they need and can share them with you?
That´s it. Once there is too much super-rich capitalism stops working, as decisions are not an average of million of small transactions, but it is a centralized economy decided by a few.
Also, the rich spend more money in luxury items that have no return value. A garage with 10 Ferraries doesn´t produces almost anything, it is wasteful. For the same cost you get 200 cars that allow workers to get to their jobs, go shoppping, etc. The same goes for an "iceber manssion" on London vs an apartment building.
And that wealth also creates corruption. So much money on so few hands creates an unchecked source of power. Why do you want to serve the public, that has no extra money to spend on you, when you can serve the elite that has more resources that they need and can share them with you?