That money absolutely has tangible value. If Jeff Bezos is willing to pay $500 million for a yacht, but I'm willing to pay $600 million to build schools, the market should favor building the schools and society ends up with a bunch of schools rather than a single super yacht.
That's why we need some kind of significant wealth tax. Take the money away from people that will choose to allocate resources to yacht building and other frivolous things and spend it on stuff that has an obvious benefit to society.
That money absolutely has tangible value. If Jeff Bezos is willing to pay $500 million for a yacht, but I'm willing to pay $600 million to build schools, the market should favor building the schools and society ends up with a bunch of schools rather than a single super yacht.
That's why we need some kind of significant wealth tax. Take the money away from people that will choose to allocate resources to yacht building and other frivolous things and spend it on stuff that has an obvious benefit to society.