Koch Brothers Essay

The isolation of the wealthy in a socioeconomic hierarchy prioritizes their economic self interests, thus exacerbating the equitable expression of self interests integral to a strong economic system. That is, Adam Smith wrote that society could leave the coordination of labor to the self interests of “private economic actors”. In turn, an “invisible hand” would allow for a sustainable economic model in which individual efforts frequently benefitted society. However, the current system is overwhelmingly hinged not on a majority of these so-called actors, but rather on isolated, wealthy individuals. For example, let us consider the case of the Koch Brothers. According to Forbes, their private incorporation, Koch Industries, had “profits of

For example, valuable economic directives can be found even at a socioeconomic level that would not suggest such. It is difficult to justify that only the wealthy are able to innovate and promote economic growth. Let us consider as an example Shark Tank, an ABC investment show, that has millions of viewers per show according to viewer data. The ideas offered on this show are often implemented and can prove effectual in creating more surplus product (and thus economic growth). There is profit to be found in these innovative ideas. Businesses that start off with 20,000 in initial investment can be valued on the show for upwards of 5 million, as in the case of Polar Pro, a homegrown business that provides camera filters; this information is given on an airing of ABC’s Shark Tank. This outlines the value of wealth distribution to promote innovative ideas. There is no reason why the self interests of these individuals should be denied in favor of the wealthy. As noted by Forbes, a “26 year old in flip flops [scored a] $1M Shark Tank deal.” This is the sort of profitable innovation that should be encouraged and celebrated via democratic