The world economy is run by illegitimate plutocrats. One of them is William A. Ackman, who owns a $90-million penthouse apartment that nobody lives in. I read about him in a New York Times profile under the headline, “Over the top.” He and the NYT business reporters seem to think he’s really smart and quite a hard worker. Really? I doubt he’s any smarter or more industrious than a typical farm laborer, computer programmer, or schoolteacher. Yet people in those professions usually have common sense.
Not Ackman, who misses the irony of his empty status symbol.
People in this super-tiny, super-rich circle have succeeded in a system which exalts greed above everything else. They remember how millions of their fellow Americans lost their only homes, but they don’t think they will ever experience any misfortunes they can’t buy their way out of. Keeping that empty apartment is a “let them eat cake” gesture by a member of an amoral, delusional elite.
No one outside that rarified circle would be impressed by Ackman’s tasteless status symbol. Before Ackman closes his next deal, he should visit a psychologist or a Gamblers Anonymous meeting. Greed is a vice. It’s an insatiable addiction. It’s no way to run an economy.