Rich people are disconnected from the shopfloor & wider conditions, their wealth creates knowledge problems. They also have far less experience hustling/calculating. They make like two or three market calculations a day, whereas poor people *constantly* evaluate tradeoffs.https://twitter.com/ThCollierPerles/status/1320854994816536577 …
Different types of calculation. "Smart money", largely but not entirely synonymous with "big money", is about risk avoidance. So you avoid 99.9% of decisions. Managing poverty is about choosing the best option from a series of bad available options, or manipulating the action.
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