Chris Dillow — Power, skill & wealth

We have enough cases here to show that power matters more than neoclassical economics would have us believe. In many cases, the idea that financial success is a reward for ability and service to others is just a fairy tale.

Stumbling and Mumbling
Power, skill & wealth
Chris Dillow | Investors Chronicle (UK)

Another false assumption of neoclassical economics that sits at the core of neoliberalism. What this suggests is that power involves the ability to extract rents.