In their new book, The Trouble with Billionaires, 91ÑÇÉ« Professor , a tax law expert at , and Canadian author make the case that the massive fortunes of the ultra-rich – widely considered benign or even beneficial to society – are actually detrimental to everyone else.
The glittering lives of billionaires may seem like harmless sources of entertainment, the authors maintain, but such concentrated economic power reverberates throughout society, threatening the quality of life and the very functioning of democracy.
Brooks and McQuaig launch their new book today in Room 519 of the 91ÑÇÉ« Research Tower, from 12.30 to 2pm. They argue it’s no accident that the United States claims the most billionaires – but suffers from among the highest rates of infant mortality and crime and the shortest life expectancy, as well as the lowest rates of social mobility and electoral political participation in the developed world.
Our society tends to regard large fortunes as evidence of great talent or accomplishment, say Brooks and McQuaig. Yet the vast new wealth isn’t due to an increase in talent or effort at the top, but rather to changing social attitudes legitimizing greed and to government policy changes that favour the new elite.
For more information about the book, visit website or read their op-ed about .
Republished courtesy of YFile– 91ÑÇɫ’s daily e-bulletin