Thursday 12 December 2019
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maverick - 10 days ago

OPINIONISTA: The billionaire problem

The billionaire problem is getting worse. Any market-oriented economy creates opportunities for new fortunes to be built, including through innovation. More innovation is likely to take place where fewer rules encumber entrepreneurial creativity. Some of this creativity may lead to processes and products that are actually detrimental to public welfare. Unfortunately, by the time the need for legislation or regulation becomes apparent, the innovators have their billions — and they can use that money to protect their interests.

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