I wonder if this is a uniquely American fallacy--the assumption that great wealth equals great intelligence. Of course some smart people make lots of money because of their smarts, but certainly not nearly always. In fact, 80% of new business startups fail. Yet the great deference shown to business people in the US is striking, and not just in matters of commerce. And out of this fawning deference comes a sense of entitlement. And from that: oligarchy.
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