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Liberalism for All — Liberalism and Social Justice

Hayek Program Podcast

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Is Being Extremely Wealthy a Good Idea?

You suggest that being extremely wealthy can isolate you from actual market participation, having to make trade offs. That's kind of one way that capitalism within itself, has a mechanism that prevents excessive accumulations of wealth. And i think it shows up in a lot of the social science data that, as you suggested, after some one becomes extremely wealthy, often most of that is dissipated. So if you do find, you know, rich trustofarians around who seem a little bit a a misunderstanding over likhe basics of economic interaction, maybe that's part of what's going on.

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