As a business person, there is one economics lesson I learn over and over again:
The marketplace is essential but not
It is not perfect in a variety of ways, but a big one is that not everyone can be a winner.
I don’t mean winner in the sense of Bill Gates or Warren Buffett. Rather, a winner in the sense of middle class – with access to some discretionary income.
There are a variety of ways to lose–and they’re not all bad.
The marketplace creates losers of the inefficient or passé. Or the rich who make poor investments.