American capitalism is run by millionaires, not billionaires

https://www.economist.com/business/2026/06/10/american-capitalism-is-run-by-millionaires-not-billionaires

by andsoitis • 1 month ago

17 9 1 month ago

economist.com

pinewurst• 1 month ago

https://archive.ph/alWe8

Ancalagon• 1 month ago

You mean except the billionaire in the presidency man-handling the oil crisis?

zug_zug• 1 month ago

I feel like the title needs to be clarified -- the premise of this article is that they also found people with 25-50m who were causing corruption.

So it should be called "Some Multi Milloinaires are corrupt too!"

Doesn't mean that billoinaires aren't, because billoinaires obvious couldn't care less about your local car dealerships, they'd be operating at a much higher level (e.g. preventing the import of cars from China, forcing their nonsense stocks into your retirement account, being president).

brianjking• 1 month ago

yes, yes, yes.

nobody772• 1 month ago

People who are not a billionaire or millionaire are corrupt too. So boring the kids are still complaining about people who have more money than them.

pixel_popping• 1 month ago

Literally, all classes of people are corrupt, it's really strange that people are screaming corruption only for the "ultra rich" while anyone at the first opportunity would skim tax or break the law if unseen, most law breach are not from rich people, or at least not only. It's like it's only bad if it's the ultra rich doing it but it's forgivable when you are in the middle class? Why so?

nobody772• 1 month ago

People who are not a billionaire or millionaire are corrupt too. It's so boring the kids are still complaining about people who have more money than them. The only person that is keeping you down is yourself.

zeruch• 1 month ago

" It's so boring the kids are still complaining about people who have more money than them" That's not what they are complaining about; they are complaining about them rigging the system further in their favor to the detriment of everyone else.

There is a crucial difference there, and history easily explains why if one bothers.

1shooner• 1 month ago

Barrels of newspaper ink have, for instance, been spilled over the political influence of Elon Musk, who may soon become the world’s first trillionaire. Far fewer have been dedicated to explaining why most American states ban or severely limit carmakers, including Tesla, from selling vehicles directly to customers.

This is a terrible example. Musk has changed the laws in 15 states to exempt Tesla specifically from these bans.

American capitalism is run by millionaires, not billionaires

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