> managing the wealth of those who earned it.
certainly an adorable point of view, but most wealth being transferred internationally these days is captured through exploiting natural resources (hundreds of millionaire Saudi Princes) or outright bribery/graft (many chinese political officers buying up California, many russian political and corporate officers buying up London and NYC).
There's a reason middle eastern and russian rich people buying up Manhattan real estate insist on installing 3 bullet proof panic rooms throughout their apartments. Stealing resources and exploiting people grows your enemies list considerably.
Not all wealth comes about because a 28 year old IPO'd their billion dollar social flimflam startup.
> bad decisions are punished through the loss of wealth.
We've lost that ability in any meaningful capacity.