Why do Millionaires hate Billionaires?

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Tom Hunter's avatarNo Minister

I was pondering this question the other day while observing a hilarious interchange between two such people, Robert Reich and Elon Musk.

Reich is in many ways a creature of the distant past. An old-style American Boomer “liberal” economist who strongly pushes old-fashioned ideas like boosting the minimum wage, empowering unions, and so forth. I only know of him because he was Secretary of Labour in Bill Clinton’s first Presidential term (1993-1997). He was disappointed to find that Clinton’s famous “triangulation” strategy for winning re-election in 1996 meant that Reich’s economic ideas around labour were never implemented to the extent he wanted.

Since then he has maintained a steady patter of pushing these ideas through books and articles. He’s also on Twitter and as an example of how the world has changed, he may have been surprised to find that modern Robber Barons of our age are not…

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