I saw a tweet last night before going to sleep, asking this same question - "Should billionaires exist?"
There's no simple answer to this questions, and it changes based on the context.
- Yes - because it acts as proof that the system allows for excellence(here, being worth billions) to exist
- No - if there are many ultra-poor at the same time. Billionaires should only exist in a society where a vast majority people are living a basic comfortable life where they can afford bare minimum necessities like good quality food, water shelter, clothing, etc., many are living a middle class life, some are upper middle class, a few millionaires, and very few billionaires. I want India to have more billionaires but also for India to have less people in absolute poverty. Till we solve poverty, we should not get into capitalism-maxxing, unless that seems to be the only way to solve poverty, even in that case we need to be careful. Capitalism quite quickly leads to high wealth disparity - rich get richer, poor get poorer.
