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blackbootz · 2591 days ago · link · · parent · post: Is It Better to Be Poor in Bangladesh or the Mississippi Delta?
Fascinating. At another point in the conversation, he mentions the tendency of rent-seeking to spike if people sense that the overall pie isn't growing as fast. Instead of investing and taking risks, folks try scramble to find their musical chair before anyone else does.Someone asked me the other day when I was giving a talk a really interesting question. They said, “If you abolished the government, would America be more or less equal?” Because there’s all the equality that comes from redistribution but there’s all the inequality that comes from rent-seeking. And it’s not clear to me which one.