It also applies to countries. Look at the increasing resources that go to people who produce little or nothing of value to others eg lawyers, lobbyists, politicians, financial engineers, LBO operators etc. Not to mention many of the people on welfare.
Spoken like someone that has never used welfare, doesn't know anyone on welfare, and gets all their ideas from talk radio and Fox News.
Woah, slow down tiger :)
More seriously, please elaborate. Or maybe I am just a bleeding heart.
Looking at the state of many governments around the world he's probably being kind in his characterization.