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Forbes’ annual rich list reveals that 2,781 people in the world have fortunes in excess of $1 billion. 141 people joined the list in 2023, with a combined wealth of around $14 trillion – a $2 trillion collective increase on the previous year. There are now more billionaires than ever before. It is a grotesque state of affairs, when we reflect on the misery and hardship that have been wrought by the cost of living crisis, soaring inflation, and years of stagnating pay and decaying public services. Clearly, amidst such stark inequality, there is an urgent need to do things differently.

That’s the argument made by Luke Hildyard in his new book, Enough: Why It’s Time to Abolish the Super-Rich, which is out now from Pluto Press. Luke argues that far from being the hard-working and productive entrepreneurs that they claim to be, the super-rich are an extractive, parasitic force sucking up a vastly disproportionate share of society’s resources – making the rest of us all poorer as a result.

Politicians make absurd promises about economic growth while ignoring the solution that’s staring them in the face: a major programme of progressive taxation and economic reform that could be used to get the wealth of the one per cent flowing instead to the workers who actually create it.

Luke Hildyard is also the Director of the High Pay Centre, a UK think tank focused on pay, employment rights and responsible business.

Use the coupon PODCAST to get 40% off the book.