Here is how they are made. Listen to Dr. Mumbi explain reality of things:

Hence corruption. The billionaire class appears to be founded on deception by government. In fact the creation of a billionaire elite may be viewed as subversion of democracy. It may be reasonable to say that governments that support the billionaire class are illegitimate.

I have watched only of her videos: this one alone.

The key idea here is not whether the billionaire has stolen or not. Instead, we are looking at how governments have a tendency for creating billionaires, or favoring a certain class. This normally happens in cases where some people have closer proximity to power than others. For example, top universities in America tend to get the spin offs of government funded research. This fact shows why there might be such a wide disparity in the distribution of wealth. Countries designed to be at the periphery like Kenya will tend to have fewer billionaires and will tend to non-technology areas.

Billionaires in countries that are in the core of our international system tend to new technologies, but we have reason to question the veracity of their privilege, given that these countries have millions of citizens. What prevents active attempts by government to ensure that these millions for example, have viable credit ratings? Take the recent financial crises as an example of how it is inconvenient for us all to have people who have no reliable income flows.

Again, we have no way for justifying how the billionaires use their money. We must swallow the narrative that Bill Gates is in fact doing the right thing by seeking malaria interventions. But against what do we contrast this idea?

Theories and assumptions in support of the billionaires are suspect because they are beholden to one school of view that is reinforced by interested parties. We may be looking at economics as a pseudo-science.

Not necessarily so. Sometimes "outsiders" can follow the money quietly and end up being millionaires if not billionaires.In the Sociology of science parlance, it is called Matthews Effect.

It might be difficult for ordinary folks like you and me to join the billionaires boys club, however, by merely observing the moves the billionaires are taking can make you a fortune. I said it here before that we shall soon be reading about how James Mwangi,Jimnah Mbaru,James Mworia,the Ndegwa brothers, the current first family, Baloobhai Patel and many more billionaires have made fortunes once the artificial and highly rigged economic hard times abruptly come to an end.

The questions all Wazuans aspiring to be millionaires should be asking themselves is:

Where is James Mwangi heavily invested, or what investment moves is James Ndegwa making today(November 2019)?

Once you have found out that Baloobhai Patel has increased his stake in a Kenyatta/Ndegwa majority owned bank which also curiously controls Mshwari and Stawi mobile apps and has lent heavily to GoK at 13% for the longterm, then you should do whatever it takes to purchase as much stake as you can in this bank and wait for the day business daily and other newspapers will start gossiping about how President Uhuru brother has made billions of paper wealth by a fractional increase in share price.

If Allah grants us life(Inshallah) we shall all be here
relishing missed opportunities. Mark Twain is famed of stating that "history does not repeat itself but it rhymes".

Aghion and Bolton (1997) argue thus in the context of an endogenous system of interest rate determination:



L. Randall Wray (2004) on the other hand thinks that:



Are there countries or population clusters that have barriers regarding to capital having a limited range of options to choose from, even when it can be shown that there are other possible choices that are not part of the decision model in question? In simple terms, one can invest in what one can't sell due to the politics of existing markets. If true, then the above arguments can only hold for the global elites but isn't a general rule.

The second quote is in conflict with the first. But the former was written after the latter. Meaning that up to now the matter of trickle-down has not set sail.

Sorry @Tycho,

Billionaires are self made. Here is a simple experiment that may never be done but which I am sure would prove this beyond reasonable doubt.

If the world resources were redistributed equally among everyone in the world (assuming peoples personal abilities remain constant) then the billionaires would quickly accumulate billions once again while the majority of the world population would slowly but surely quickly consume their new found wealth and regress back to the comforts of the poverty they are used to.

It is a fact that we live in a capitalist world. What you are proposing is a pure socialist system which is not practical in the current world settings where money = power. We have witnessed transition from communism to capitalism in erstwhile communist states like U.S.S.R and China hinting that Capitalism is here to stay.

Capitalist powers like the USA and Western Europe and lately China and Russia will not allow democratic socialism to take root in the world. You can call it corruption but if capitalism collapsed today it would be Armageddon.

There are always ethical, social and even temporal limits to human achievement. In this case let's consider the ethical limits. It is wrong for governments to favor a few people at the expense of the many who are deceived that they are the powers behind government.

Consider contexts where children are the pickpockets of choice, why do we not say that we shouldn't limit their expertise?

The sad thing is that we may have forgotten that all these billions happen in a political context that assumes equality of rights and sovereignty, and that is guided by 'the promise of politics' where diversity of interests finds a fair division of costs and benefits.

To state that I insist on strictly equal division of resources, is to misunderstand my position. My idea is more on fair division given truly autonomous choice. And by autonomous choice I mean all calculated options that a human may take to optimize between the unconscious and the conscious.

I am speaking as a humanist.

https://www.theguardian....re-capitalists-communism