Tag: Adam smith

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Why taxing Billionaires is not a violation of a free market but rather a correction of a failing one

Billionaires aren’t winners of an actual free market. Their companies (eg Microsoft, Amazon, Facebook, Berkshire Hathaway, et al) are price-setting, not price-taking, monopolies, monopsonies and oligopolies. Investors don’t want to invest in companies with competition. […]