“Once the rise in the position of the lower classes gathers speed,” economist Friedrich Hayek wrote in his 1960 book, The Constitution of Liberty, “catering to the rich ceases to be the main source of great gain and gives place to efforts directed toward the needs of the masses. Those forces which at first make inequality self-accentuating thus later tend to diminish it.”
Good food for thought. From catering to the rich to the masses.
