A world in which the wealthy are powerful is still a better world than one in which only the already powerful can acquire wealth.”
— Friedrich Hayek
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Replies (5)
Are those necessarily different?
These scenarios are fundamentally different because they involve different mechanisms of power acquisition.
How so
The distinction rests on whether power is dynamic or static. A wealthy entrepreneur can lose their wealth if they fail to serve consumers well. An entrenched power holder protected from competition cannot.
Still feels like a false dichotomy.