Can Billionaires and Democracy Coexist?

Can Billionaires and Democracy Coexist?

We think this is a serious question worthy of calm consideration.
The point isn’t to pick sides, but rather, to think about what democracy means in 2020 and the implications of the status quo in 2020.

 

If billionaires really want to benefit society, they should work to reduce their own power
Giving away billions is good, but it would be better if non-elected wealthy people weren’t the ones deciding what priorities to fund.

“The business world has been encroaching into U.S. political institutions and public debates for years.

 – Salesforce, a $17 billion software company, entered the debate over gay marriage debate legislation by pressuring the Indiana legislature to change proposed LGBTQ policies.
– Delta Airlines entered the gun control debate by curtailing flight discounts to National Rifle Association members in the wake of mass shootings.
– The financial firms BlackRock and JPMorgan Chase took a stand on the murder of the journalist Jamal Khashoggi by canceling their participation in important meetings in Saudi Arabia, at least for a while.
– Hobby Lobby, a craft and decor store chain, entered the reproductive rights debate by challenging the Affordable Care Act on grounds that having to contribute to health insurance for its employees that covered birth control violated the religious beliefs of the company’s leaders.

This corporate presence can turn public debates into battles between dueling piles of money.”

 

READ MORE:
https://www.fastcompany.com/90582513/if-billionaires-really-want-to-benefit-society-they-should-work-to-reduce-their-own-power

 

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