The distribution is a problem, but not for the reasons people think. At these amounts (billions) the money stops being human-scale and starts to become civilization scale. You can accomplish big things with 150 billion. Things like: installing a gigawatt of solar, building a 1000km HVDC line, etc.
The issue is that when that 150 billion is concentrated into one person's hands, it tends to be inefficiently allocated. This is the argument against central planning; it's inefficient, it does not actually go where it would maximally benefit society.
We have, with the amount of wealth inequality, essentially re-invented central planning. It's arguably worse today, because rather than giving central control to a worker's council which is nominally accountable to regular people, we've given it to Larry Ellison who is going to build yet another datacenter for AI, instead of spending it on energy or manufacturing capacity.
My home electricity bill has doubled since AI came out. That is my evidence that this concentration of wealth is egregiously misallocating capital. It is a civilization-scale self-own. Countries that allocate capital properly will wipe the floor and we are beginning to see that play out.
The issue is that when that 150 billion is concentrated into one person's hands, it tends to be inefficiently allocated. This is the argument against central planning; it's inefficient, it does not actually go where it would maximally benefit society.
We have, with the amount of wealth inequality, essentially re-invented central planning. It's arguably worse today, because rather than giving central control to a worker's council which is nominally accountable to regular people, we've given it to Larry Ellison who is going to build yet another datacenter for AI, instead of spending it on energy or manufacturing capacity.
My home electricity bill has doubled since AI came out. That is my evidence that this concentration of wealth is egregiously misallocating capital. It is a civilization-scale self-own. Countries that allocate capital properly will wipe the floor and we are beginning to see that play out.