Whether or not Elon Musk is worth $42 billion or $41 billion is completely immaterial to his quality of life. This is why gonzo-extreme wealth inequality ruins the power of markets: once the marginal value of a dollar falls to zero for any given actor, they can keep a market irrational indefinitely with no penalty.

If you're the sort of person who wants to believe in the power of markets, then you need to make sure that every participant has actual skin in the game, which means stopping people from accumulating so much wealth that they render the market permanently irrational, and the irony is that fomenting runaway wealth inequality is a natural tendency of markets.

>This is why gonzo-extreme wealth inequality ruins the power of markets: once the marginal value of a dollar falls to zero for any given actor, they can keep a market irrational indefinitely with no penalty.

This is an excellent point. Our assumptions of rationality don't hold up as well with this amount of money. One billion dollars means something totally different to him than it means to the average person.