We are developing the social individualist meta-context for the future. From the very serious to the extremely frivolous... lets see what is on the mind of the Samizdata people.

Samizdata, derived from Samizdat /n. - a system of clandestine publication of banned literature in the USSR [Russ.,= self-publishing house]

Samizdata quote of the day – So how do the billionaires hoard then?

That is not how wealth works of course. The people who have piles of money do not in fact have piles of money they’ve got piles of paper signifying ownership of companies and businesses.

Which leads to the third problem with the idea. Which is that taxing these billionaires on their stacks of ownership of assets does not, in fact, free up money into the economy. It doesn’t reverse hoarding that is – just changes who hoards.

Tim Worstall

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