So assume I could kill the top 1000 wealthiest people in the world with a snap of my fingers. Dead and gone. Assets spread about. Let’s also assume I could take out the top 5 C types and the boards for the top 500 corporations.
Obviously there would be a bit of market chaos in the short term. In the long term would we as humans, would we lose anything significant? wouldn’t the markets, the corps, all that matters keep rolling along?
Since y’all are actuaries I figured you/d be able to answer this question something other than snidely,
Since I am me here’s a song to contemplate the existence of the wealthiest.
I think people would become afraid to take on those positions going forward for fear of being disappeared.
If there was some mechanism to verify it wouldn’t, the initial redistribution would help a lot of people out of poverty. Although I’m not sure how you go about redistributing say a super yacht.
I guess a better way to ask this is what is the marginal benefit of the current set of elites over their replacements? Obviously the transition would be significantly disruptive and any real world implementation horrific. I know of specific examples of good for business CEOs being replaced by a bad CEOs and bad CEOs being replaced by good ones. In aggregate what would be the effect of replacing all the CEOs at once?
My guess is the marginal benefit of the current set an the next in line replacements is negligible.