In Winston Churchill's oft-quoted formulation, "Democracy is the worst form of government except all those other forms that have been tried." He could have said the same about capitalism. It may not be pretty, but it has turned out to be the least bad way of settling society's accounts. In this annual survey of the world's richest people, it's worth pausing to consider one ugly effect of capitalism. It creates a few very wealthy grandees―that the 1992 billionaires survey in FORBES called "the trickle-up phenomenon." And this phenomenon has generated a lot of envy among those less fortunate.
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