Abolish billionaires

Billionaire abolishment could take many forms. It could mean preventing people from keeping more than a billion in booty, but more likely it would mean higher marginal taxes on income, wealth and estates for billionaires and people on the way to becoming billionaires. These policy ideas turn out to poll very well, even if they’re probably not actually redistributive enough to turn most billionaires into sub-billionaires.

More important, aiming to abolish billionaires would involve reshaping the structure of the digital economy so that it produces a more equitable ratio of superrich to the rest of us.

Inequality is the defining economic condition of the tech age. Software, by its very nature, drives concentrations of wealth. Through network effects, in which the very popularity of a service ensures that it keeps getting more popular, and unprecedented economies of scale — in which Amazon can make Alexa once and have it work everywhere, for everyone — tech instills a winner-take-all dynamic across much of the economy.