See Milton Friedman’s “four ways to spend money”
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Presumably this also applies to bureaucrats in government and charities
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Interesting, as one who works in this industry I can say that investors also WANT higher risk. Wonder if this is
@robinhanson EintheB type situation: Investors claim to want low risk but overwhelmingly invest in risky assets for higher return.Thanks. Twitter will use this to make your timeline better. UndoUndo
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