Thanks, hadn't re-read this PG essay in a while. It makes some good and important points, but if the theme is don't hate on the wealthy.. I don't think you can ignore the fact that many people don't believe the 100x productive/add value idea.. Although I think many of us technologists and/or capitalists know first hand that it is true, that is, it is possible..
But, all the wealth accumulation is not the result of a pure capitalism/reward system. 100x wealth does not necessarily equal a 100x contribution of value to society.
There does exist undeserved rewards. That perception, sometimes true, sometimes not, is at the core of the wealth haters and quite a bit of outrage.
Much wealth is controlled by entities that have quasi-governmental status, special protection and privileges (ie.. the entire banking system). Interestingly enough a more pure capitalist system may be more effective at leveling the field instead of a socialist system.
But, all the wealth accumulation is not the result of a pure capitalism/reward system. 100x wealth does not necessarily equal a 100x contribution of value to society.
There does exist undeserved rewards. That perception, sometimes true, sometimes not, is at the core of the wealth haters and quite a bit of outrage.
Much wealth is controlled by entities that have quasi-governmental status, special protection and privileges (ie.. the entire banking system). Interestingly enough a more pure capitalist system may be more effective at leveling the field instead of a socialist system.