From economist Robert Reich's Facebookhttps://www.facebook.com/RBReich/posts/940343575978239
Jan. 26, 2015
Post by Robert Reich.
Robert Johnson, president of the Institute of New Economic Thinking, told attendees at the World Economic Forum in Davos that many hedge fund managers were already planning their escapes, should widening inequality fuel civil unrest. “I know hedge fund managers all over the world who are buying airstrips and farms in places like New Zealand because they think they need a getaway."
This raises a number of questions: (1) Wouldn’t it be cheaper for hedge fund managers to simply stop paying politicians to rig the economic game on their behalf? (2) Do they really need their “carried interest” tax loopholes and their easy access to insider information? (3) Wouldn’t they rather live on $5 million a year in peace, rather than $500 million and worry about civil unrest? (4) Why do they suppose widening inequality won’t create civil unrest in New Zealand?
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