If an entity manages to obtain a massive amount of wealth, far surpassing its own needs, and there is a definite need for that money elsewhere, then that is a policy failure.
The obvious example is a single person who's a billionaire - a person doesn't need a billion dollars for a house and some food. But it could also extend to a company, or even a subsection of the government. It's just in that case measuring the need becomes several orders of magnitude harder (what should an F-35 cost anyway?)
As far as definite need, the GP probably had these needs in mind: Healthcare, food, housing, and an uncontaminated environment. I think the US is failing in these aspects in such a big way that I would agree and say "billionaires are policy failures".
If an entity manages to obtain a massive amount of wealth, far surpassing its own needs, and there is a definite need for that money elsewhere, then that is a policy failure.
The obvious example is a single person who's a billionaire - a person doesn't need a billion dollars for a house and some food. But it could also extend to a company, or even a subsection of the government. It's just in that case measuring the need becomes several orders of magnitude harder (what should an F-35 cost anyway?)
As far as definite need, the GP probably had these needs in mind: Healthcare, food, housing, and an uncontaminated environment. I think the US is failing in these aspects in such a big way that I would agree and say "billionaires are policy failures".