Despatch: Should we ban rich people?

As calls grow louder to cap personal fortunes, a new philosophy – “limitarianism” – argues that no one should be allowed to be rich beyond a fixed limit. In this essay, Tim Worstall, Senior Fellow at the Adam Smith Institute, takes aim at the idea, arguing that it rests on a fundamental misunderstanding of how wealth, value and incentives actually work. From Mark Zuckerberg to global inequality, he makes the case that extreme riches are not a social failure, but often the by-product of innovations that benefit billions – and that banning wealth would leave society poorer, not fairer. Despatch brings you the best articles from CapX’s unrivalled daily newsletter. Stay informed with CapX's unmissable daily briefings from the heart of Westminster. Go to capx.co to subscribe. Hosted on Acast. See acast.com/privacy for more information. Get full access to The CapX Briefing at briefing.capx.co/subscribe