Playing the Market No Longer Resembles a Game

October 08, 2020

Despite their exponentially growing fortunes, life is becoming harder for the world’s richest billionaires. The Guardian’s Warren Murray offers his top story of the day with this headline: “Billionaires ‘worried by own sheer wealth.’”  The Swiss bank UBS has been studying the...

How Billionaires Take Seriously the Proverb “Charity Begins at Home”

August 06, 2020

What is the point of having a billion dollars? Most people would say, after observing the behavior of recent billionaires, that the point is to turn the first billion into multiple billions. If you don’t spend it or bury it in the ground, money grows. That’s a law of nature. And when you have...

The Sadly Illusory Spontaneity of the Super-Rich

June 29, 2020

In an article for The Economist’s 1843 magazine,  the sociologist Ashley Mears lets readers discover the economic and psychological reality of a hyperreal world reserved for the winners in the global economy. She unveils how the super-wealthy spend their super-wealth at “VIP parties”...