Oddbean new post about | logout
 Yes and still a good distinction to have, esp when discussing the topic with those that have the mindset you reference.

To clarify for them that, if someone makes their fortune from providing value that the free market appreciates is very very different from those that make their fortune simply rent-seeking and benefiting from the cantillon effect.

The former will always exist, and are to be appreciated for their contribution to society, while the latter would not exist in a truly sound money standard.