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Creative Destruction and Inequality
- lkrubner 11y agoThis is interesting: --------------------------------------- In yesterday’s post, I reacted to Paul Graham’s much talked about essay on inequality by suggesting that the premise — entrepreneurship causes inequality — is far from obvious. Indeed, I conjectured that if things were working as they should, entrepreneurship would tend to decrease inequality. My argument was based on where the entrepreneur started in the income distribution, where they ended, what their innovation did to the incomes of others and what they ended up doing with the wealth they accrued. Suffice it to say, that’s alot of moving parts and I will admit that it was hard to see how it fit together.