Scott Alexander summarizes and responds to reader comments on his article about billionaire wealth, addressing various economic and ethical perspectives.
Longer summary
This post summarizes and responds to reader comments on Scott Alexander's previous article about billionaire wealth and replaceability. It covers topics like natural monopolies, the role of luck vs. talent in business success, risk-taking by entrepreneurs, the political power of billionaires, and ways to test the replaceability of inventors and innovations. Scott engages with various perspectives while adding his own thoughts and clarifications on these complex economic and ethical issues.
Shorter summary