Billionaires - 9780815725824

There are 1,218 known billionaires in the world. Collectively, they represent one-millionth of one percent and control $4.5 trillion in assets. This concentration of financial resources has increased dramatically in the early twenty-first century. The super rich have spawned new industries and business models; they have affected how people shop, communicate, earn a living, and spend their leisure time. Darrell West's book Billionaires crafts anuanced picture of the super-wealthy's role in philanthropy, the political system,and the economy.

Billionaires takes us inside the world of the super-wealthy from New York City Mayor Michael Bloomberg to Heinz Family Philanthropies Chair Teresa Heinz Kerry. How does wealth affect political candidates' campaigns ?including Bloomberg's ?or charities' capacity to provide social benefits? Do the überwealthy spur or stifle innovation and pluralistic economic advancement? To answer these questions, West combines personal observation of super-rich people with data regarding wealth creation, income distribution, public opinion, and case studies. He considers the dilemma of heightened income inequality and how wealth concentrations challenge both democracies and developing countries. Billionaires is a fascinating journey inside public perceptions and private realities of prosperity; ultimately, it forwards original ideas to harness the power of money for social, economic, and political good.