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We can see this working in a number of countries, especially the Nordics.

Norway doesn’t count because of its sovereign wealth fund.

How is it working in Sweden though? That country still has billionaires (IKEA founder, Minecraft’s notch).

I think it just doesn’t work in general. If you try to set up a new system to redistribute the wealth, the winners will be those in charge of the system.

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What exactly is the issue with having billionaires, as long as there is a decent standard of living for everyone and people are taken care of?

You need incentives to work hard and it is a good idea to have strong differences in outcome, as long as you have mostly equal opportunity.

Otherwise you end up where all socialist experiments end up: in economical, social and humanitarian hell.

I'm not saying there's an issue with it. I'm just saying that if you have billionaires then you haven't actually redistributed all of the wealth.

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