Why having billionaires is bad
Jeff Bezos (ceo of amazon) could stop earning any money for the rest of his life and still spent £40 every. single. second for the next 80 years.£40 every single second
And still not run out of money
A billion is hard to conceptualise, but I hope this helps you see how much of an absolute douche he is
And amazon workers are still payed amounts they cannot live off, worked too hard for long hours and treated like shit.
So this Christmas, don’t shop at amazon
Jeff doesn’t need to add to his 110 billion usd
Apart from the obvious greed, why is it so bad for the economy that few people have most of the wealth?
Imagine I had £10, and I spent it at a local shop, they spent it on stock from the farmer, the farmer spent it on clothes and the clothes shop used it to pay their rent. That £10 had has been used 4 times. In this example its value to the economy has been £40.
If money is stuck in your account, the value doesn’t grow at all. It doesn’t benefit anyone and like all money, it’s value is zero when it isn’t being spent or used.
Part 2 of why few people having all the wealth is bad for the economy and eventually cause its collapse
Imagine (and I’m going to use really low numbers for simplicity) there is £100 in circulation currently. And just 1 person had some of that money. They had £50.
At the beginning of year 1 the money in the economy is £50 (because 100 in circulation minus to 50 in that person’s bank account)
Now imagine everyone with money spends £5 a year.
By the start of year two that person will have spent £5 leaving £45 in their account.
This leaves £55 in the economy.
Over the two years there was 50+55 in the economy so £105
Now let’s look at if that money was spilt between two peoples bank accounts
Start of year 1
Person 1 has £25 in their account
Person 2 has £25 in their account
There is £50 left in the economy
Start of year two person 1 and 2 both spent £5
Person 1 has £20 in their account
Person 2 has £20 in their account
And there is £60 left in the economy
Over the two years there was 50+60 so £110 in the economy.
When only one person had the money stored in their account there was only £105 in the economy.
The more people the wealth is spread across the more value our economy has to everyone and makes a huge difference over time
So what should we do?
We can avoid shopping at huge companies, especially those like amazon that don’t put much back into our economy.
We can shop small, supplying local food growers, designers, makers etc.
We can buy second hand, or reuse or repurpose
We need to get out of this materialistic mentality fed to us.
We don’t need a brand new wardrobe full of clothes every season
We don’t need to buy big branded things and designer things.
And as well as the economy it helps the planet and god it needs some love right now