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by Houshalter
4385 days ago
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There are things like Public Goods[1] that can have very high value to society but no individual has any incentive to invest in pay for them. E.g. most of the "big problems" the author is talking about. Free markets severely misallocate resources because of this. There are also things like normal wealth inequality. A poor person can't pay for the drug that will save his life. Then there are things that are very long term. [1] https://en.wikipedia.org/wiki/Public_good |
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