S7 E6: Thirty Glorious Years
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Market Unfairness
- Markets primarily respond to needs backed by purchasing power.
- Those without wealth are largely ignored by the market.
- Survival within a market system depends on perceived usefulness and employability.
- Brad DeLong emphasizes the inherent unfairness of capitalist markets, where rewards aren't based on merit or need, but often on luck, skill, timing, or even unscrupulous behavior.
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