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By making everyone poorer by hurting free trade "You can't prevent great variations in wealth without preventing people from getting rich, and you can't do tha

by kwikiel 10y ago

By making everyone poorer by hurting free trade "You can't prevent great variations in wealth without preventing people from getting rich, and you can't do that without preventing them from starting startups. " http://paulgraham.com/ineq.html http://paulgraham.com/ineq.html

smt88 10y ago
Paul Graham deeply misunderstands the argument against inequality, and he's also dead wrong that starting startups is what makes most people reach. Most wealth is institutional and/or based on rent-seeking. Starting startups is not rent-seeking. After writing this article, Graham was justifiably annihilated by journalists, fellow VCs, real economists, and founders. YC-funded founder: http://www.inc.com/jeff-bercovici/paul-graham-wrong-inequality.html http://www.inc.com/jeff-bercovici/paul-graham-wrong-inequali... Mark Suster: https://bothsidesofthetable.com/why-i-don-t-celebrate-income-inequality-84290db74956 https://bothsidesofthetable.com/why-i-don-t-celebrate-income... Harvard sociologist: http://qz.com/586563/paul-graham-just-accidentally-explained-everything-wrong-with-silicon-valleys-world-view/ http://qz.com/586563/paul-graham-just-accidentally-explained... and also https://medium.com/@girlziplocked/paul-graham-is-still-asking-to-be-eaten-5f021c0c0650 https://medium.com/@girlziplocked/paul-graham-is-still-askin... Roundup of several economists: https://www.washingtonpost.com/news/wonk/wp/2016/01/14/what-silicon-valley-doesnt-understand-about-inequality/ https://www.washingtonpost.com/news/wonk/wp/2016/01/14/what-...