Why Be A Billionaire?

[brianold]

http://www.washingtonpost.com/wp-dyn/con...50_pf.html

Quote:It's probably true that most billionaires have acquired their wealth in ways that make life better for the rest of us. But the Forbes list includes plenty who merely chose rich parents. There are many whose accumulation of vast wealth, however gumptious, does not fit the Adam Smith model of individual drive and greed being channeled into activities that benefit all. The rising value of exclusive franchises given away by the government, such as cable TV and cellphone licenses, creates billionaires without generating any general social payoff. Real estate investors do not create a square inch of land.