That's the "invisible hand" - different concept. Invisible hand: two people following their own greed by engaging in a non-coerced, knowledgable exchange, prod

That's the "invisible hand" - different concept. Invisible hand: two people following their own greed by engaging in a non-coerced, knowledgable exchange, produce a surplus benefit, in which both individuals are better off. Munger test applied to the idea of the invisible hand: Does it work for greedy people? yes. If one party won't be better off as a result of the exchange, they won't participate. Munger test applied to the idea of increasing revenue by increasing tax rates on the ultra-wealthy: Does it work for greedy people? Not linearly, because they'll have a great incentive to find ways to restructure or shelter their income from the increased taxes.