because he doesn't have enough disposable income.
And, besides, he knows so much better how it ought to be spent than the government does.
The most valuable car ever auctioned.
A 1962 Ferrari 250 GTO sold for $48.4 million at RM Sotheby's annual Monterey collector car sale -- a world record for any car ever sold at auction.
And what does this do to the part of Hayek's argument for inequality that the rich use their wealth to hasten invention and development by buying new things when they are still very costly, enabling manufacturers to bring down prices over time?
The most expensive car ever auctioned is far from something at the cutting edge.
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