alt Hacker NewsMoney is also a voting system. He can decide those things only because people voted for him with their money. The issue is, not everybody has same voting power in this system. But then again people who have more power were voted for previously by others. So it's kind of representative democracy.
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bluegatty • today at 5:56 PM
Good, god, no, money represents the balance of power in a system, there's not thing 'representative' about it from a civic perspective, completely the opposite.
Compounding interest means, left unchecked, the natural progression is the “voting” power concentrated until there is only a monarch.
A trillion dollars will accumulate $100 billion in passive wealth simply by existing