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Updated: June 20, 2025
As long as individuals are allowed to accumulate money from mines, urban real estate, municipal franchises, or semi-monopolies of any kind, just to that extent will the economic system of the country be poisoned, and its general efficiency impaired.
It may also be admitted that any immediate and drastic attempt to substitute for the present system a national regulation of the distribution of wealth or a national responsibility for the management even of monopolies or semi-monopolies would break down and would do little to promote either individual or social welfare.
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