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#342 The Lessons of History (Will & Ariel Durant)

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The Impact of Economic Development on Inequality

Economic development leads to specialization of functions, differentiation of abilities, and unequal value within groups. With increasing complexity, inequality also tends to rise. In the age of infinite leverage, it is crucial to excel in one's craft as the best individuals gain leverage for everyone. This emphasis on specialization and excellence is expected to continue expanding. The trade-off between freedom and equality is highlighted, emphasizing that natural inequalities will multiply, and superior ability ultimately prevails. The idea that talent is the best asset class is emphasized, and the notion that utopias of equality are biologically destined to fail resonates deeply.

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