All this talk of wealth re-distribution is scaring the crap out of me. Unlike the old days, when people used to admire successful businesspeople, nowadays there are resentments and feelings of injustice toward “too much success”.
Paul Samuelson, a Nobel-prize winning economist, writes about why the people’s anger towards investment bankers and CEO’s, and the politicians’ ubiquitous promises to regulate CEOs’ pay, are really misguided, and why they are actually harmful, in this wonderful article.
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