Billionaires are Different

Billionaires are Better

Let me tell you about the billionaires. They are different from you and me. They create and possess immense wealth, and they benefit society immeasurably. They are different from you and me. They are better. [1]

The rest of this piece is a justification of the previous bit. To get started, it’s important to properly understand what we mean by rich people. They have more wealth compared to the non-rich. What’s wealth? It is whatever we as a collective commonly value.

Wealth is always reported in monetary terms (Bill Gates is worth $113 billion, for example) but money is not wealth: it’s only convenient to measure wealth in terms of units of money. This distinction is very important. Those who are unable to make that distinction end up writing nonsense, as did one opinion writer of the New York Times [2] recently. More about that later. Continue reading