Friday, March 28, 2014

Should we split California into six smaller states?

One of our venture capitalist robber barons thinks this would be a great idea. This snarky Economist video spells out the proposed boundaries. Tim Draper is spending nearly a million dollars to get an initiative to do the deed onto the November ballot, proving that you can force the people to vote on almost anything if you spend enough money. The political pros all think the idea is an electoral nonstarter -- even Draper seems less than serious according to USA Today:

"I'm just putting it out there for all of you," he said. "And I'm only doing this once, I don't have unlimited capital. Then I'm going back to work."

Back to work in Silicon Valley – which even if it never becomes a state, is certainly a dream-anything-you-want state of mind.

It took the most minimal research to discover that Draper is part of the growing elite of inherited wealth that Paul Krugman discussed in a column today. Draper's father and grandfather were also venture capital investors. Here's Krugman discussing the trajectory of such figures:

... it’s interesting to look at the Forbes list of the wealthiest Americans. By my rough count, about a third of the top 50 inherited large fortunes. Another third are 65 or older, so they will probably be leaving large fortunes to their heirs. We aren’t yet a society with a hereditary aristocracy of wealth, but, if nothing changes, we’ll become that kind of society over the next couple of decades.

A lot of them seem to think having enough money means they can do anything like to the society we all live in together.

1 comment:

Hattie said...

Honestly. These rich people and their silly ideas are wasting our time.

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