Nathan Vardi: Contribute Economic Activity

Posted by admin on Sunday, February 19, 2017

Nathan Vardi Money Quote saying 30 wealthy hedge fund managers make up 8 percent of the Forbes 400 wealthiest Americans – those riches don’t contribute to the economy. Nathan Vardi said:
 
give a lot of money to charity. But 8 percent of the 400 wealthiest people in America is a big number for a group that arguably doesn’t contribute any economic activity Quote
 

“They do a lot of wonderful things and give a lot of money to charity. But 8 percent of the 400 wealthiest people in America is a big number for a group that arguably doesn’t contribute any economic activity” — Nathan Vardi

 

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In this quote, Nathan Vardi seems to be commenting on the vast wealth concentrated among the richest individuals in America. While acknowledging they “do a lot of wonderful things and give a lot of money to charity”, Vardi also points out that just 8% of their combined net worth would be an enormous sum.

His main point appears to be that despite their great wealth, the 400 wealthiest people do not directly “contribute any economic activity” through labor or business operations in the way that many other Americans do. The best interpretation is that Vardi is raising a debate around the sources and social impacts of accumulated wealth at the very top, which for some of these wealthy elites derives primarily from asset ownership rather than active involvement in the business world that drives broader economic growth and job creation.

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